A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. The leaseholder has the right to remain in occupation for a fixed period, in Florida the minimum is typically 40 years and it can exceed 100 years. If you are familiar with On Top of the World in Clearwater, these typically transfer with a Warranty Leasehold Estate Deed. I believe it is 99 years. 

What happens when the leasehold expires? When the leasehold expires, the property reverts to a freehold property, where it is under the ownership of the freeholder. It’s important to be aware of what happens when a leasehold property expires to ensure you protect yourself. 

https://www.southfloridalawpllc.com/leaseholds-a-rare-phenomenon-in-most-states-more-common-in-florida/

Things you want to consider when you buy a leased land property:

1. Monthly rent is there is a cap?
   

1. What happens when the lease ends?
   

1. What happens if the building is destroyed?
   

1. Do banks loan on leased land properties?
   

1. Do leased land properties appreciate or depreciate in value?
   

1. What is the advantage of owning a leased land property?
   

1. Who covers sink holes?