In the real estate industry, a license is a right to use a property for a defined period, usually for a specific purpose. Licenses are normally non-transferrable. Unlike a lease, the license does not transfer any ownership rights. For example, Gina may allow her brother Leo to use her home as collateral for his business loan. She still completely owns the property and she won't sign the business loan note (except for the mortgage deed); rather she simply permits her brother to use her property in a certain way. For more information, see the "All About Leases" article in the "Real Estate In-Depth" section.
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