lease hold is existing in US and other western country

Even most people bought properties as fee simple right(own land for ever). Lease hold right (like in China, own the land for a certain year, In US it is usually 50 to 100 year). The buyer only bought a using right for a certain year. It is existing in NY and many states. Espeacially many commercial properties.

As long as disclosured to the buyer. It has no problem. It is the way to reduce the price.