Latent heat describes energy that is not stored as the internal energy (i.e. temperature) of an object but in its phase state.
For example, in the atmosphere heat that is transported by an air parcel that contains more water vapor than its surroundings. Because energy is needed to turn water into water vapor, water vapor is a way for a body to store energy (along with potential energy, kinetic energy, and sensible heat). If the water vapor is returned to a liquid or solid phase (by condensation or sublimation), the stored energy is released as sensible heat.