Licensee

DEFINITION of 'Licensee'

An individual who is allowed to enter a piece of property by permission of the owner. For the purpose of this definition, there cannot be any kind of reciprocal profit motive between the licensee and the property owner. Someone who is allowed to hunt on a piece of property would be classified as a licensee.

BREAKING DOWN 'Licensee'

The simplest definition of licensee is simply someone who has been issued a license. This can be any type of license, including one to sell insurance or securities. But the legal definition is listed above, and property owners are required to inform licensees of any possible dangers on the property.

RELATED TERMS
  1. Licensing Agreement

    This term refers to a written agreement entered into by the contractual ...
  2. Property Manager

    An individual or company responsible for the day-to-day functioning ...
  3. Pre-Foreclosure

    The status of a property which is in the early stages of being ...
  4. Property Management

    The administration of residential, commercial and/or industrial ...
  5. Form 4797

    A tax form distributed by the Internal Revenue Service (IRS) ...
  6. Joint Tenancy

    A type of property right where two or more people own or rent ...
Related Articles
  1. Economics

    How Do You Earn a Royalty?

    In business, a royalty is payment for the right to use another person’s property, usually intellectual property such as a copyright, patent or franchise.
  2. Professionals

    The Basics of Financial Securities Licenses

    The Financial Industry Regulatory Authority (FINRA) offers several licenses that correspond to specific businesses or investments.
  3. Budgeting

    Vacation Property Walkthrough: Renting Out A Vacation Home

    People who rent out a vacation home may do so to offset the expenses of ownership or to generate income (ideally a profit). There are several important considerations when deciding to rent out ...
  4. Economics

    How Property Rights Affect Economies

    Property rights are laws governments create that enable investors to control, benefit from, and transfer property.
  5. Home & Auto

    The Complete Guide To Becoming A Landlord: Hiring A Property Manager

    A property manager can perform such duties as marketing your rental property, selecting tenants, maintaining the property, creating budgets and collecting rent. You may consider hiring a property ...
  6. Professionals

    Keeping Up With Your Continuing Education

    Professional maintenance can be a chore. Learn how to streamline the process.
  7. Home & Auto

    Investing In Property Out Of State

    If you can't afford property close to home, consider taking the real estate plunge elsewhere in the country.
  8. Investing

    How Does Depreciation Reduce My Tax Bill?

    How the depreciation tax rule can assist real estate investors.
  9. Professionals

    Community Property Vs. Non-Community Property

    Community Property Vs. Non-Community Property
  10. Professionals

    Understanding Series 6

    Upon successful completion of the Series 6, an individual will have the qualifications needed to sell open end mutual funds and variable annuities
RELATED FAQS
  1. What do states do with unclaimed property?

    Understand what unclaimed property is and what types of property can be considered abandoned or unclaimed. Learn what states ... Read Answer >>
  2. How are capitalism and private property related?

    Read about the relationship between capitalism and private property rights, and learn why voluntary trade would collapse ... Read Answer >>
  3. What criteria does a property need to meet to be considered an 'investment grade' ...

    Learn what it takes for institutional investors to consider a property "investment grade," such as real estate investment ... Read Answer >>
  4. What is the difference between real estate and real property?

    Understand how real estate is legally different from real property and the implications of that difference for each property ... Read Answer >>
  5. How is Net Operating Income (NOI) used in real estate?

    Find out more about net operating income, what it measures and how it is used to analyze a real estate property's return. Read Answer >>
  6. Under the Income Capitalization approach to valuing real estate, which of the following ...

    The correct answer is: d) When valuing an entire property, and not just the equity portion in the property, we have to discount ... Read Answer >>
Hot Definitions
  1. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  2. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  3. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  4. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  5. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
  6. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
Trading Center