Owners of property will sometimes give long-term leases of land up to 99 years. A lease of more than 99 years is considered a transfer of fee simple. Land leases are commonly used to build banks, car lots, and shopping malls upon.
Land that a building is built on is owned by someone else, and a land lease payment is made by the Lessee (usually a co-op association) for a pre-established period of time (usually for 99 years).