What type of ownership entails one party holding title for another's benefit?

The correct choice is land trusts, as they are a specific type of ownership arrangement where one party, known as the trustee, holds legal title to property for the benefit of another party, referred to as the beneficiary. This structure allows the beneficiary to enjoy the benefits of the property, such as income or appreciation, without necessarily holding title themselves.

Land trusts offer privacy and can be useful for estate planning, investment, and even asset protection, allowing individuals to manage properties without revealing their ownership publicly. This feature distinguishes land trusts from other types of ownership, making it the appropriate answer to the question regarding holding title for another's benefit.

Other types of ownership like easements pertain to the right to use someone else's property rather than holding title for benefit. Joint tenancy involves co-ownership where two or more individuals equally share ownership, including rights of survivorship. Condominium ownership refers to individual ownership of a unit within a larger property, along with shared ownership of common areas, but does not involve holding title for someone else's benefit.