The Washington herald., 1922-08-27
BENEFITS OF LONG
SEEN
/ IBYREALTYEXPERT
They Are Very Useful in
! Growing Communities,
Says E. II. Mcintosh.

Advantages of long-term lease.
are described by E. II. Mcintosh.
well known to local realtors in HIS
CO pacity as president of the Cleve-
la.,d Real Estate Board. In a state
ment recently prepared by MIN for
publication: 80
"Renitors should accept every op-
portunity to eradicate from the
minds of people the belief that
fong-term leases are devious ana
mysterious transactions. because
they can be made so very useful in
many ways in any growing COM
nunity." he explains.
There 10 nothing really mysteri-
Gus about them: they need more
provisions than the short term lease
on account OF the length of time
provided for. and are usually more
carefully drawn also on that ac-
count. but the nature OF the con-
tract 10 the same, and IL the public
could be brought to use Iong-term
leases as freely as short-term ones
would be very beneficial to every
city. :.
Brought Here By Lord Baltimore.
Lord Baltimore is responsible for
bringing the lease to this country,
and. IL is understood. that Il was he
who introduced the long term lease
to America, a lease for ninety mine
years. Leases for nlnety-nine years
were a custom In England started
by some one and carried along
through the feudal days of merry
England. The lease is a develop
ment Of the land laws of England.
but the word Is derived from the
French word 1aisser,' which means
to leave.
The custom is based. perhaps. on
the fact that English land held by
the peers Of the realm was prac-
ticaily under lease to them. sine.
they gave service to the crown and
promised service and allegiance to
their sovereign when knighted.
Their title and estats remained
theirs just SO long as they paid tn.
price.
Leasing is a method by which
one who cannot. or does not desire
to. reiinQuish title to his proper,v
may convey the use of II to an.
other Let us examine, FIRST. the
motives of the lessor as being less
diverse. probably. than those of the
lessee. or course. the motive most
commonly found Is the desire for
safe Investment. There is a con-
stantly increasing number of per
sons In large cities who aim to
leave as part of their estates land
under long-term leases. There are
also heirs to estates who NAV he
unable TO reach an agreement on a
safe. but can agree on a lease. There
ls the owner who wishes to retain
his ownership in certain land for
some sentimental reasons; and n
VIII sometimes happen that land
which cannot be sold readily can he
leased and sold later.
Care In Preparation Urged.
The termination Of the lease
should be carefully considered in the
negotiations and carefully worded in
the lease When long-term leases first
come into use in a community not
enough attention is paid to this phase
OF the lease and leases end suddenly
at a certain date. the lessee walks
out at the expiration and all i'm
provements pass to the lessor.
In Cleveland. looking forward to
the termination of such long-term
leases, 1t was foreseen that this would
be an inducement for the lessee to
neglect his improvements at the lat
ter end Of the term. and that such
neglect would tend to depreciate not