Stewart v. Gorter

Stone J., delivered the opinion of the Court. The question presented in this case is the true construction of the Acts of 1884, ch. 485, and 1888, ch. 395, ²⁴⁴ relating to leases. It appears that on the 10th of April, 1888, G-orter leased a lot of ground in Baltimore City to Mineher, for the term of fourteen years, and the rent reserved was one hundred and twenty dollars. In this lease there is a covenant on the part of the lessor for the renewal of the lease for the further term of fourteen years, with the same covenants that are in the original lease.

There is a further covenant on the part of the lessor, that at any time after the expiration of ten years from the date of the lease, upon payment to him of a sum of money equal to the capitalization of the rent at five per cent. — that is to say, of the sum of $2400, the property should he released. There is also in the lease an agreement made hy the lessee, that he would not avail himself of any right that he might have by^ virtue of any Maryland statute to redeem the rent at a less sum than that fixed in the lease. The Act of 1888 as applicable to this case is in these words: “All rents reserved hy leases or sub-leases of land made in this State after April 5th, 1888, for a longer period than fifteen years, shall he redeemable at any time after the expiration of ten years from the- date of such lease, or sub-lease, at the option of the tenant, after a notice of six months to the landlord, for a sum of money equal to the capitalization of the rent reserved, at a rate not to exceed six per centum.” • The two questions presented for our consideration are, first, whether the law of 1888, above referred to, is applicable to this lease, and secondly, if said Act is applicable to this case, whether the lessee has waived or can waive, his option of redemption at six per cent. The first of these questions is easily answered.

The Act of 1888 is applicable to the case before us. A ²⁴⁵ lease for fourteen years, with a covenant to renew for another fourteen years, is