Which of the following best describes a ground lease?

A ground lease specifically pertains to the leasing of land where the lessee has the right to build on that land according to predetermined conditions or requirements set out in the lease agreement. This type of lease typically involves the landowner (lessor) leasing the land to a tenant (lessee) for a long duration, often 30 years or more. The tenant has the authority to construct a building or develop the property while the ownership of the land remains with the lessor.

The emphasis on "specific building requirements" highlights that the tenant must adhere to particular regulations or standards when developing the property on the leased land. This can include restrictions on the types of structures that can be built, the purpose of those structures, and compliance with local zoning laws.

The other choices describe varying types of leases but do not capture the unique essence of a ground lease. For example, a lease that includes both land and property development combines elements of real estate leasing but does not isolate the ground lease's primary focus on land alone. Other options such as short-term leases for vacation properties and month-to-month lease agreements pertain to residential or temporary leasing situations that do not involve land development in the sense outlined by a ground lease.