Words and Phrases - "licence"

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P-062 “Distinction Between Lease, License and Similar Arrangements” 25 May 1993

Lease confers exclusive possession

In the common law provinces, it has generally been determined that a lease normally confers exclusive possession, while a licence of real property normally would not.

Words and Phrases
lease licence

3 February 2015 External T.I. 2014-0531601E5 - OPSTC - "tangible property that is leased"

In finding that a "lease cost" did not include amounts payable under a licence of property (i.e., exclusive possession of the property was not given), CRA cited Will-Kare for the proposition that "the concepts of a sale or a lease have settled legal definitions."

Words and Phrases
licence