Once the ger toshav becomes accepted when the Yovel/Jubilee year is in effect, can the ger toshav own land in Eretz Yisrael?
Although there are opinions that do say it is okay, it is not so simple. See for example the Minchas Chinuch (284) which says the fact the Rambam does not make any distinguish the prohibition of לא תחנם applies to a goy and a ger toshav equally. Thus, it is forbidden to sell them any land, house, or anything else connected to the ground. Letting them live amongst us (hence the name גר תושב) is not the same as selling them land.
See שו"ת יביע אומר (יו"ד סי' מא) at length.
According to Rambam [Avodat Kochavim 10:6], the very term ger toshav, stranger-resident, defines the fact that any gentile who accepts the seven Noahide laws of morality may be a resident in the land of Israel, may purchase or rent land or a dwelling place and may live in the midst of a Jewish community in Israel!
A ringing affirmation for Maimonides‘ position that defines ger toshav as a gentile who is permitted to dwell in the midst of the Israelites in the land of Israel, and that they can therefore purchase land and/or homes in Israel, is found in one of the smaller talmudic tractates, Gerim [3:3-4]:
And we may not cause [the ger toshav] to dwell on or close to the border [because of the danger of an enemy attack], or in an unseemly dwelling place, but rather in a goodly dwelling, in the midst of the Land of Israel, in a place where his business or artisanship can prosper, as it is written: "With you shall he dwell, in your midst, in whatever place he will choose, in any one of your cities, wherever it is beneficial to him; you must not taunt him."