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BICSI OSP Design Practice Test
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What is the correct description of a license in real property terms?
A long-term ownership right
A transferable fee interest
Temporary permission to use land
A mortgage lien
Reveal Answer
Correct Answer:
Temporary permission to use land
Explanation:
A license describes a temporary permission to use land without granting ownership or exclusive possession. It is usually revocable and personal to the licensee, meaning the owner can withdraw the permission and it ends once the stated purpose is fulfilled. It does not create an estate in land and, unless explicitly stated, does not run with the land or transfer with ownership. The other options describe ownership interests or a security interest (like a mortgage lien), not just permission to use.
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