Author Description

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1838 Excerpt:...particular portion, dis,, charged of all under-leases, and subject only to the rent to,a-be reserved to his own immediate landlord; and as if he were himself in the actual occupation of the land; because if there be an under-lease, the persons interested therein will be bound in like manner to contribute each in proportion to the value of his interest; and although the existence of several superior rent-charges payable out of the whole land to the see and to intervening tenants, and for which distress may be made on the sub-tenant's lands, may render the interest to be purchased by him of less market value than if it were not liable to such distress, yet it seems most consonant to the principles of accurate calculation, and to the meaning of the legislature, that this contingent liability should not be taken into account in estimating, for the purposes of these acts, the value of the derivative interests. It would be difficult to estimate this possible depreciation in value on any certain principles, or beyond mere conjecture; and it may be observed, that in other provisions of these statutes, the legislature seems to have excluded the liability to rent, from being any ingredient in the calculation of value. Thus, by section 156, 3 & 4 Will. IV. c. 37, it is enacted, that where any inferior tenant shall be unable to pay the sum ascertained as his contribution in respect of the purchase by the immediate tenant, such inferior tenant may bind himself to pay an additional rent to his immediate landlord at the rate of £6 per cent. on his contribution; and by sect. 157, such additional rent is made a charge on the inferior tenant's interest, and recoverable by all the remedies provided for the recovery of the original rent. Thus, making lands in the occu...