The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1903-04-11
THE LAND PURCHASE BILL.
What the Terms of the Present
Measure Mean.


tenants: ~ Tenants who have had
judicial rents fixed since 1896; (2) ten
ants who have never had judicial
rent fixed; g. tenants who had their
judicial rents fixed before 1896. Glasses
one and two are placed in one cate
CORY; class three in second category.
The Estates Commissioners, who are
substituted for the Land Purchase De-
partment Of the Land Commission,
must sanction all agreements to pur-
chase between landlords and tenants
of the first category, provided the price
affords to the purchaser a reduction
Of from 10 to 80 per cent on what we
may describe as second judicial rents;
and between landlords and tenants Of
the second category, where reduction
of from 20 to 40 per cent is provided.
Seven-eighths of the tenants annuity
will expire in 6S1A years. 1t is to be
capitalized on a 81 per cent basis in
part payment to the landlord Of the
purchase money. One-eighth of the
tenants annuity is payable forever. 1t
is to be capitalized on a 2A per cent
basis, and to form the second part Of
the payment to the landlord. In addi-
ton, the landlord will receive bonus
varying from 5 per cent where the pur
chase money of an estate exceeds f4O,-
nm RI TX x1,ho ho v,,,ro1,o so
money does not exceed $4,000.
To illustrate these financial provis-
ions the maximum and minimum pay
ments to the landlords of each cate
cory of tenants may be taken. If a
second term or on-judicial tenant
agrees to purchase on basis Of 10
per cent reduction on his rent, the
landlord will receive the following
sums for f100 rent
a. 7s of 90 capitalized at 3A .f2, 423
(2) Is of 80 capitalized at Oh. 425
Total capitalization of tenants
payments Observation-Disclosures. t., S4S
That is, the maximum payable by the
second judicial or non-judicial tenant
for seven-eighths of the value of the
holding will be roundly 2S1A years.
purchase. In addition, should the
landlord be small landlord and the
estate sold not exceed $4,000 year
in value, the landlord will obtain a
bonus of Is per cent, or f427. The
total maximum payment for t1OO
second term or non judicial rent will
be 1925, or 32:M4 years purchase. The
minimum payment by tenants Of this
category will be 20 per cent Of their
rent The landlord will receive as a
minimum payment, therefore,
Q) Is of 20 capitalized at 81. .f1,S 1881
C) IL of 70 capitalized at 2M.. BIS
Total capitalization of tenants
payments ACKNOWLEDGEMENTS. .f2,2O2
That is, the minimum payable by the
second judicial or non-judicial tenant
for seven-eighths of his holding will
be roundly % years purchase. In adj
dition, the landlord will receive at
least per cent on the purchase money
the landlords may receive for estates
upon which second term rents have
been fixed, or upon non- judicial ten
ancies, is E2,313-or DIS years pur
chase.
The price of second judicial lease
holds or nOn-y judicial rents. therefore,
will vary from % years purchase to
2S% years purchase; and the sum re-
ceived by the landlord from 25M years
purchase to 32A years. purchase.
Coming now to the case of the first
term judicial lcasclolders, the mini
mum reduction they may receive is 20
per cent, the maximum 40. II the ten
ant pays the maximum annuity of so
per cent the landlord will receive
a.. q of so capitalized at 81 70, 1914
(2). * Of 80 capitalized at 2M.. 3G3
Total capitalization of tenants
payments Observation-Disclosures. t2,5l7
The maximum payment by a first
judicial tenant, therefore, for seven
eighths of his holding is - II; years
purchase of his rent. In addition, thu
landlord may receive us maximum
bonus, Is per cent, or 1911. The max
imum payment receivable by land
lord for l100 first judicial rent will,
therefore, be f2,S04, or, i'll round fig
ures, 20 years purchase OF a first
judicial rent.
The minimum annuity payable by
first term tenant is GO per cent of his
rent. In case of the minimum pay
ment the landlord will rcceivc:-
a.. q of GO capitalized ut 3h .f1,6l5
(2). Is of GO capitalized at OK. 272
Total capitalization of tenants
payments ,SS7
The minimum payment by the first
judicial tenant for seven-righths of
his holding is in round figures Is AS
years purchase. The landlord will re-
ceive III addition at least ; per cent
bonus, or in all E1.9S6 for every hun
dred pounds of first term rents.
The price of first term leaseholds
to the tenants will, therefore, vary be-
tween 10 As years purchase to % 1-G