Tenant Representation – Commercial Leases
License to Use Land or Building Space
A license is a personal right, not a property right such as a lease, to use land or building space of another. It can be oral or it can be written. Given that a license is a personal right, it cannot be transferred to another person by the licensee. Since there is no right to possession, a license can be revoked by the licensor or owner.at any time. An eviction is not required. A licensee does not pay rent but may pay a license fee. An example of a license is when a broker allows a real estate agent to use a desk in the broker's office. Another example is when a building owner allows an advertising company to place a billboard on the property. A theater ticket is also a license.
Tenant Representation – Commercial Leasing