I have received some land from the franch, what do they do?

[greatwall]

I have received some land from the franch, what do they do? about 100 acres, out side of sometwhere

 

[Wolfwood]

That's just some personal wealth for you. Check your status screen and you will see that it counts towards your "fame points" alongside with the personal gold that you have acquired.

I think garnering enough land will also make your retirement a bit easier (you get a more favourable description of the rest of your days).