Section 9Part 3 — Leases
Leases
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A lease for a term not exceeding twenty-one years at the best rent that can be reasonably obtained without fine, and whereby the lessee is not exempted from punishment for waste, may be made by a tenant for life —
notwithstanding that there may be no trustees of the settlement for the purposes of this Law;
by writing under hand only, containing an agreement instead of a convenant by the lessee for payment of rent in cases where the term does not extent beyond three years from the date of the writing.
Defined Terms
leaserentlesseetenant for lifesettlementwastefine