SQE Buildings, Government leases and building management question: owner hold the land instead

Answer: B. Under conditions of sale, grant or exchange that operate as the lease once complied with

Answer: Under conditions (of sale, grant, exchange and so on) that operate as the lease once complied with. Why not the others: - A freehold title: Land in Hong Kong is held from the Government under leasehold, not freehold. - A yearly short-term tenancy: Short-term tenancies exist, but they are not how developed lots are held. - A Town Planning Board licence: The Board zones land; it does not grant land. Rule: Land is commonly held under conditions of sale, grant, exchange, regrant or extension. On compliance with the positive obligations, a Government lease is deemed to have been granted, so the conditions in effect become the lease. Source: Conveyancing and Property Ordinance (Cap. 219), section 14; Lands Department land grant practice; as at Oct 2026