What term describes an association or corporation that can hold title to real estate and has an identity separate from its members?

The term that refers to an association or corporation capable of holding title to real estate and possessing a legal identity separate from its members is a legal entity. In legal terms, a legal entity can be an organization, company, or other entity created under law that can own property, enter into contracts, and be sued or sue. This separation ensures that the members are typically not personally liable for the debts and obligations of the entity, providing them with protections and benefits that are important in real estate transactions.

In contrast, other terms like corporate structure might refer to the way an organization is set up internally, but does not inherently imply the ability to hold title or protect the members' liability. Business partnerships involve personal liability for the partners, which does not align with the concept of a separate legal identity. An association of owners may relate to a group managing property but again lacks the implication of a distinct legal entity that can independently hold title to the property. Thus, the distinction of being a legal entity is pivotal when discussing the ownership of real estate.