LEASE. 
this ttnJ)roved rent, rnttltiplied by 2,469) 
\vill give 123b 9si fur the amount of the find 
required. * 
Leases arfe soiMetimes granted for a term 
Of years eertain, but subject to determine 
before that period if a particular life or 
lives should fail within the term j and the 
term of suCh leases being usually gi-eater 
than the probable duration of the lives, the 
estate may be considered as wholly depend- 
ing on the continuance of the life or lives 
nominated. 
Life estates are of various kinds ; some 
depend on a single life, of which kind may 
be considered church-livings, tenancies by 
courtesy, in dower, &;C. ; others are granted 
for two lives, such as joint-tenancies, and 
joint-tenancies with benefit of survivorship, 
the former signifying such estates as termi- 
nate on the death of either of the parties, 
and the latter signifying such as terminate 
on the death of both the parties ; other 
estates are granted for three lives, which, 
like the last, may' be divided into such as de- 
pend on the joint continuance of all the lives, 
and such as depend on the longest of all the 
lives the former signifying such as terminate 
on the death of any one of the parties, and 
the latter such as terminate on the death of 
the longest liver of the three lives. When 
estates are held on two or three lives, and 
one of the lives, nominated in the lease, 
happens to drop, or become extinct, the 
tenant is often desirous of replacing such 
life, or of putting in a new life, in order that 
the estate may continue to be held on the 
same number of lives in being, and thereby 
his interest in the Same be prolonged. In 
such cases it is customary,, if tlie estate lias 
improved in value since the original grant 
of the lease, for the landlord to demand a 
fine, or sum of money, proportionate to such 
improved value, and to tlie age of the per- 
son intended to be put to it, or added to 
those already in possession j the annual rent 
of the estate continuing the same. It is 
evidently the interest of the tenant, in tiiis 
case, to add one of the best lives he can 
find, that is, a life which has the greatest 
expectation of living, according to tlie best 
tables of mortality, and such a life will he 
about the age of eight or ten years. How- 
ever, it will sometimes happen that lie may ^ 
wisli to put in a life not exactly of this 
age, but as it is his interest to put in as 
good a life as possible, few persons will be 
disposed to put in one above the age of 
twenty. The following table will, there- 
fore comprehend tlie cases of this kind 
which most commonly occur, from which, 
tlie sums to be paid for renewing with a life 
of any other age may be nearly determinedj 
Table, for renevvlng, tVitb One Life, tlife Lease of an Estate held on Tiireei Livfes 
Interest at 6 per Cent. 
B Life 
1 put: in. 
Lives in 
Possession. 
Tears PTir- 
chase. 
Life 
put in. 
Lives ill 
Possession. 
Years Pur- 
chase. 
Life 
put in. 
Lives in 
Possession. 
Tears Pur, | 
chase. | 
1 
30-30 
1.305 
30-30 
1.191 
30-30 
1.079 1 
1 
30-40 
1.52t 
30-40 
1.407 
30-40 
' 1.284 1 
1 
30-50 
1.832 
30-50 
■1.699 
30-50 
1.557 1 
1 
30-60 
2.160 
.30-60 
1.996 
30-60 
1.831 1 
I 
30--70 
2.535 
30-70 
2.381 
30-70 
2.218 1 
1 
30-7.5 
2.571 
30-75 
2.408 
30-75 
2.241 1 
j 
40-40 
1,792 
40-40 
1.687 
40-40 
1.5.58 1 
1 
40-50 
2.204 
40-50 
2.067 
40-50 
1 .908 1 
j 
40-60 
2.637 
’40-60 
2.474 
40-60 
2.293 1 
{ lb 
40-70 
3.032 
15 
40-70 
2.839 
20 
40-70 
2.641 1 
1 
40-7.5 
3.273 
40-75 
3,076 
40-75 
2.873 I 
1 
50-50 
3.723 
50-50 
2.536 
50-50 
2.341 i 
1 
50-60 
3.242 
50-60 
3.039 
50-60 
2.828 g 
j 
50-70 
3.819 
50-70 
3.579 
50-70 
3.337 1 
1 
50-75 
4.062 
50-75 
3.819 
.50-73 
3.576 1 
1 
60-60 
3.911 
60-60 
3.678 
60-60 
3,433 1 
1 
60-70 , 
4.917 
60-70 
4.627 
60-70 
4w338 1 
1 
60-75 
5.142 
60-75 
4.849 
60-75 
4.558 g 
1 
70-70 
6.124 
70-70 
5.805 
70-70 
5.489 1 
The years purchase in the table multiplied by tlie improved annual value of fhe* 
estate beyond the rent payable under the lease, gives the fine to be paid fbr patting 
In the new life, 
G 2 
