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Benjamin discusses the concept of a land lease in this video, also known as a ground lease, which involves separating ownership of the land from ownership of the building and improvements on that land. He provides information for prospective buyers considering purchasing a home on leased land and gives an example of a community with a soon-to-expire land lease. Land leases can last between 50 to 99 years and can be used for various purposes such as residential or commercial development. Different zoning regulations apply to land leases, including agricultural and commercial leases. The video mainly focuses on the implications and applications of land leases.