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. Form 4797

    A tax form distributed by the Internal Revenue Service (IRS) ...
  4. Real Property

    Any property that is attached directly to land, as well as the ...
  5. Pre-Foreclosure

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

    The administration of residential, commercial and/or industrial ...
Related Articles
  1. Markets

    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. Financial Advisor

    Trending Toward Asset-Based Management

    Will charging fees instead of commission increase your client base?
  3. Financial Advisor

    Keeping Up With Your Continuing Education

    Professional maintenance can be a chore. Learn how to streamline the process.
  4. Personal Finance

    The Basics of Financial Securities Licenses

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

    How Property Rights Affect Economies

    Property rights are laws governments create that enable investors to control, benefit from, and transfer property.
  6. Personal Finance

    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 ...
  7. Personal Finance

    Your Property Tax Assessment: What Does It Mean?

    The amount of a property tax bill is based on the property’s value, the exemptions it qualifies for, its use and the local property tax rate.
  8. Trading

    Use Real Estate To Put Off Tax Bills

    Find out how you can build wealth and reduce your taxes.
  9. Financial Advisor

    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
  10. Personal Finance

    How Does Depreciation Reduce My Tax Bill?

    How the depreciation tax rule can assist real estate investors.
RELATED FAQS
  1. How does securitization play a role in the implementation of PACE financing?

  2. 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 >>
  3. Do I have to pay capital gains tax on commercial property?

    I am retired and living on a fixed income. When selling a piece of commercial property, do I have to report and pay capital ... Read Answer >>
  4. 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 >>
  5. 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 >>
  6. 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 >>
Trading Center