A license only gives one a personal privilege to do something on the land of another. A license is not an interest in land, but is a privilege to do something on the land of another person. Upon the sale of the property, subject to the license, the license terminates unless a new license is executed. This form is an example of such an agreement.
Alabama General Form of License Agreement Regarding Right to use Real Property
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Multi-State
Control #:
US-00998BG
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Word;
Rich Text
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How to fill out General Form Of License Agreement Regarding Right To Use Real Property?
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FAQ
Option contracts. This is common in real estate transactions involving a lease with an option to purchase. The property owner rents the property to the lessee with the option to purchase the property at a future time for a specific price. Such an offer to sell the property to the lessee is irrevocable.
An agreement between a tenant and either an individual or a company to license the use of a part of the tenant's leased premises for a fee. This Standard Document provides a license agreement to share office space for a short term by paying a monthly fee.
A perpetual license is one that has no given end. An irrevocable license cannot be cut short. Either a perpetual license or a license with a stated term can be either revocable or irrevocable.
When used in an very simple intellectual property license, the terms ?revocable? and ?irrevocable? have the meanings you would expect. A ?revocable? license may be terminated by the licensor at any time during the term of the license agreement, with or without cause.
A transferable software license means that the licensee has permission to transfer or delegate some or all of its rights under the license to others. By contrast, a non-transferable software license prohibits the licensee from transferring their license rights or sharing the software with others.
Most courts hold that simple, non-exclusive licenses with unspecified durations that are silent on revocability are revocable at will. This means that the licensor may terminate the license at any time, with or without cause.