Which term describes a right to real property being held by one party for the benefit of another?

The term that describes a right to real property being held by one party for the benefit of another is known as a "deed of trust." In a deed of trust, a borrower (the trustor) transfers the title of the property to a trustee, who holds the property for the benefit of the lender (the beneficiary). This arrangement provides a security interest for the lender while allowing the borrower to retain ownership and use of the property.

The concept is different from a deed restriction, which imposes limitations on the use of the property; a deed in trust, which is not a standard term in real estate, can be confused with other legal documents; and delivery and acceptance primarily pertain to the process of conveying property, rather than the arrangement of benefits among parties. The specificity of a deed of trust in securing loans makes it the correct answer.