 The concept can also be applied by national governments to territorial assets; prior to the Falklands War, the government of the United Kingdom proposed a leaseback arrangement whereby the Falklands Islands would be transferred to Argentina, with a 99-year leaseback period, and a similar arrangement, also for 99 years, had been in place prior to the handover of Hong Kong to mainland China.Leaseback arrangements are usually employed because they confer financing, accounting or taxation benefits.After purchasing an asset, the owner enters a long-term agreement by which the property is leased back to the seller at an agreed rate.