When title is held for the benefit of another party, this is known as?

When title is held for the benefit of another party, it is referred to as trust ownership. In a trust, one party (the trustee) holds legal title to property for the benefit of another party (the beneficiary). This arrangement allows the trustee to manage the property according to the terms of the trust, which ensures that the interests of the beneficiary are protected and that the property is used or distributed according to the intentions of the person who created the trust.

Trust ownership is a crucial concept in real estate, especially when dealing with estate planning, asset protection, and wealth transfer. It provides a structured way to control how and when the property will benefit the beneficiary, making it a common vehicle in real estate transactions.

In contrast, the other choices represent different legal concepts. An easement pertains to a right to use another person's property for a specific purpose but does not involve holding title. Joint tenancy involves co-ownership of property with rights of survivorship, allowing for the transfer of ownership to the surviving tenant upon one owner's death. A leasehold estate is a tenant's right to use and occupy land or property for a specified time based on a lease agreement but does not imply ownership of the property itself.