Which term refers to a right held by one party to use another party's land for a particular purpose?

The term that refers to a right held by one party to use another party's land for a particular purpose is an easement. An easement is a legal privilege that allows one individual or entity to utilize a portion of another person's property, typically for a specific purpose, such as accessing a road, installing utilities, or conveying water. This right is often formalized in a written agreement and is typically attached to the land, meaning it benefits the owner of the easement regardless of whether the property changes hands.

In contrast, a license is a more informal agreement that allows someone to use another person's land but can be revoked and does not create an enduring right. Liens relate to legal claims or rights against assets that are typically tied to debt repayment and don't involve use of land itself. Restrictive covenants are provisions that restrict the ways in which the property can be used, rather than granting the right to use it. Understanding the differences between these terms is crucial in navigating real estate and property law effectively.