In general, you could say it does. At its discretion, it can assign a property deed to you that will grant you certain rights to the land, and you can reassign that property deed to another and receive payment in doing so. As I was telling bitcoin2cash, you are mistaken if you believe land ownership means quite as much as you think it does.

Here's a thought experiment for you. Assume that land ownership means that you own the surface dirt of your property to a depth of fifty feet. Now, when you stand upon your property's dirt, you are standing on something that you own. However, your physical self is occupying the space above the dirt, and thus residing in the atmosphere of the host nation. By doing so, you are occupying their space, and subject to their laws.

It's irrelevant whether the above thought experiment is actually true or not. The point is, it serves to illustrate that land ownership is not exactly what you think it is.