|
|
Record of leases of recorded land.
Leases may be entered as recorded estates.
Where lessor’s interest is subject to recorded charge, consent of person entitled to charge to be obtained, otherwise the rights of such person to be expressly reserved.
Certain leases to be valid, though not recorded.
|
49. Whenever recorded land is intended to be leased or demised, the lease and a counterpart thereof, after being executed by the recorded owner, and attested, may be brought to the officer, who shall make an official note of the terms of such lease in the proper folio of the record, and shall mark or indorse on such lease and counterpart a note that they have been recorded. A lease granted by any person having power to lease, but not being the recorded owner, may, on the fiat of the judge, be noted on the record in like manner. On the application of the lessee, and after notice to the recorded owner, any such lease may be entered in a subdivision or chapter of the said folio, and such lease shall in that case be deemed to be a “recorded estate” within the meaning of this Act: Provided always, that if the lessor’s interest shall be subject to any recorded charge, either the consent of the person appearing entitled to such charge shall be obtained before a lease or demise of recorded land shall be noted or entered on the record, or, if such consent be not obtained, the officer shall enter a note to the effect that the granting or recording of such lease is “without prejudice to the title and claim” of the person entitled to such charge; and the interest of the lessee shall remain subject to such qualification as last aforesaid, but the officer may at any time, on such consent being obtained, and proved to his satisfaction, cancel such qualification, and thereupon the title of the lessee shall become indefeasible, subject only to the reservations, clauses, and covenants contained in the lease: Provided also, that any tenancy or lease lawfully made at a rackrent without fine for a term not exceeding thirty-one years, and under which the tenant is in possession, or any assignment thereof, shall be valid for all purposes, although not entered or recorded under this Act.
|
