Lease land comes in a few different forms here.
There is lease land that belongs to the local tribe and there is lease land that is owned by a private party who is not of the tribe. This type of lease if often called a Contractors lease.
One of the advantages of buying a home on lease land it you usually get more for you money since you do not have to purchase the land it sits on.
This is reflected in square footage or location. Leases are usually renegotiated when they start approaching 35 years left on the lease, as banks prefer to have 32 to 35 years left on a lease before they lend on it.
This is very important!.......If you are going to purchase on lease land, you really need to find a local lender who is accustomed and approved to lend on lease land. Many times an out of state lender will tell you they can, but then when it gets down to closing time, the underwriter will not approve it.! Don't let this happen and find some local banks that are approved for such a transaction.