What is a License of real or personal property?

A license is a grant of the right to use real or personal property. It is not a true property interest. A license of real property will be limited to a particular holder and it will have a definite (limited) term. Because it allows for use (without possession) of the real property, it is similar to an easement in gross. An easement, however, must be in writing. An oral grant of permission to use real of personal property would be considered a license.