License - Real Property

The video tutorial explains the concept of ownership rights versus licenses. It clarifies that a license is not equivalent to ownership but rather a limited right to use property. The tutorial discusses how property use does not always entail possession rights, especially in the context of land. It further elaborates on how licenses allow specific activities on a property without granting ownership. Finally, it describes license agreements as mutual understandings where one party agrees not to enforce their exclusion rights against another party for certain activities.

What is the primary difference between a license and ownership rights?

• A license allows possession of property.

• A license is the same as an easement.

• A license grants full ownership.

• A license provides a limited right to use.

Which of the following is NOT true about a license?

• It grants a limited right to use.

• It is an agreement between parties.

• It allows possession of the property.

• It does not transfer ownership.

In the context of land, what does a license typically allow?

• Conducting specific activities like hunting.

• Building permanent structures.

• The right to sell the land.

• Full ownership of the land.

What is a key characteristic of a license agreement?

• It transfers ownership rights.

• It is a mutual agreement not to enforce exclusion rights.

• It allows for permanent changes to the property.

• It is a temporary ownership transfer.

What does a license agreement prevent?

• The construction of new buildings.

• The transfer of full ownership.

• The enforcement of exclusion rights by one party.

• The sale of the property.