What is the legal right of one party or the public to traverse land belonging to another called?

The legal right of one party or the public to traverse land belonging to another is known as a right-of-way. This term specifically refers to a type of easement, which allows individuals to pass through or use a particular part of someone else's property for a specified purpose, often related to transportation or access. Right-of-way agreements are essential for roadways, pedestrian paths, utility lines, and more, ensuring that essential movement and access can occur without the property owner obstructing that use.

The concept emphasizes a designated path or space that permits transit, which can be critical for both public infrastructure and private property rights. Thus, considering this specific definition and application, right-of-way is the most appropriate term for the scenario described in the question.