Which of the following best describes a license in real estate?

A license in real estate refers to a personal, non-transferable, and revocable permission granted to an individual or entity to use someone else's property under specific conditions. It differs from an easement, which is a more permanent and transferable right. A license is characterized by its flexibility, allowing the property owner to revoke the permission at any time, often without cause. This temporary nature makes it distinct from agreements or rights that are intended to last indefinitely or that are binding in a way that cannot be easily terminated.

The context of a license is commonly seen in scenarios such as allowing a friend to park in your driveway or permitting a contractor to work on your property for a limited time. These examples highlight the non-transferable aspect, as the permission cannot be passed on to someone else without explicit reauthorization from the property owner. This understanding is essential for anyone within the real estate realm, as it influences how properties and rights are negotiated and utilized.