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In today's video, Benjamin discusses a land lease, also known as a ground lease, which separates the ownership of the land from the ownership of the building and improvements on it. A land lease agreement is between the landowner and someone wanting to use the land for construction or development, lasting typically 50 to 99 years. Different types of land leases, such as agricultural and commercial, exist, with a current example of a community facing an expiring land lease. The video focuses on the importance and implications of land leases for prospective buyers and developers.