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Benjamin in a YouTube video explains the concept of a land lease, also known as a ground lease. He discusses what potential buyers should consider when purchasing a home on leased land and gives an example of a community facing an expiring land lease. A land lease refers to a long-term lease of the land only, separate from ownership of any buildings or improvements on the land. The lease agreement is between the landowner and someone looking to use the land for construction or development, such as an individual, corporation, or business. Land leases can last anywhere from 50 to 99 years and may have different zoning regulations for agricultural or commercial purposes.