license coupled with an interest

In property law, a "license coupled with an interest" is a permission to use another's property that is granted alongside a right to possess or take possession of property located on that land. This type of license is typically assignable and irrevocable, at least until the holder has a reasonable opportunity to retrieve their property.1

For example, if a lender has a right to repossess a car from a borrower's private property after a loan default, this constitutes a license coupled with an interest. Unlike bare licenses (simple permission) or contractual licenses (permission for consideration), licenses coupled with an interest are more robust and generally cannot be revoked arbitrarily by the property owner.1