What term describes the land that people can live on?

The term that best describes land that people can live on is "Homestead." This term refers to a specific piece of land that is used for residential purposes, typically including a dwelling where individuals or families reside. Historically, homesteads often connoted land granted to settlers, particularly in the context of the Homestead Act which encouraged westward expansion in the United States.

In contrast, other terms like partnership and franchise refer to different concepts unrelated to land use for habitation. Partnership pertains to a business association, while franchise involves a special right granted to an individual or group to conduct business under a specific brand or system. Easement, on the other hand, refers to a legal right to use another's land for a specified purpose, often related to access or utility supplies, rather than a designation of land for living purposes. Thus, "Homestead" is the most appropriate term for land designated for residential use.