520 CONVEYANCING. [ART. 21

or delivered on condition that the said shall be used by the person, firm
or corporation purchasing, leasing, renting, hiring or receiving the
same, the title to the same to remain in the vendor, lessor, renter, hirei
or deliverer of the same until the agreed-upon price of such property
shall have been paid, such condition in regard to the title so remaining
in the vendor, lessor, renter, hirer or deliverer, notwithstanding delivery
to and possession by the other party, until such payments are fully
made, shall be valid for all intents and purposes as to subsequent pur-
chasers in good faith, and creditors; provided, the term during which
the rent or instalments are to be paid shall not exceed twenty years.
Such contracts shall be' in writing and shall lie acknowledged and
recorded as deeds in the county in which the said vendee or lessee has
its principal office in this State.

1904, art. 21, sec. 88. 1888, art. 21, sec. 85. 1884, ch. 485. 1888, ch. 395.
92. All leases or sub-leases of land made in this State between the
8th day of April, 1884, and the 5th day of April, 1888, for a longer
period than fifteen years, shall be redeemable at any time after the
expiration of fifteen years, at the option of the tenant, for a sum of
money equal to the capitalization of the rent reserved at the rate of
six 'per centum in gold coin of the United States, or its equivalent,
unless some other sum not exceeding four per cent, capitalization of said
rent in said coin shall be specified in said lease, in which event said
rent shall be redeemable for the sum fixed in said lease or sub-lease.
All rents reserved by leases or sub-leases of land made in this State
after April 5th, 1888, for a longer period than fifteen years shall be
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 sura of money equal to the capitaliza-
tion of the rent reserved at a rate not to exceed six per centum.

Application of this section.

The act of 1888, ch. 395, did not render the act of 1884, ch. 485, inoperative,
but was a substantial re-enactment of the latter; hence the lessee under a
lease made in 1886 is entitled to redeem In 1902. The fact that the property
was Improved at the time of the lease is immaterial. Purpose- of the two
acts above mentioned. Swan v. Kemp, 97 Md. 688. And see Steward v.
Gorter, 70 Md. 245; Buckler v. Safe Deposit Co., 115 Md. —.

A lease executed subsequent to the act of 1888, ch. 395, purporting to be in
pursuance of a covenant in a lease executed prior thereto, but which is incon-
sistent with such prior lease, is redeemable under this section. Maulsby v.
Page, 105 Md. 29. Cf. Flook v. Hunting, 76 Md. 180.

This section has no application to a lease executed after the passage of the
act of 1888, ch. 395, confirming a defective lease executed prior thereto.
Jones v. Linden Bldg. Assn., 79 Md. 74.

The leases contemplated by this section contrasted with those referred to
in article 23, section 284. A lease held to be in accordance with the latter
section, and hence that it was not redeemable under this and the following
section. Buckler v. Safe Deposit Co., 115 Md. —.

A lease for fourteen years with a covenant to renew for a like period, the
second lease to contain the same covenants, comes within the purview of this
section. No covenant can estop the tenant from his right of redemption.
Stewart v. Gorter, 70 Md. 243.