e tenant-for-life was in possession; and it would
be rare, that all those interested could agree to unite in efforts to
increase the general value of the estate, by such improvements.
The great object in view was, then, to devise means, by which such
estates, suffering for want of systematic, and often expensive, drainage
operations, might be improved, and the cost of improvement be charged on
the estate, so as to do no injustice to any party interested.
The plan finally adopted, is, to allow the tenant or occupant to have
the improvement made, either by expending his private funds, or by
borrowing of the Government or the private companies, and having the
amount expended, made a charge on the land, to be paid, in annual
payments, by the person who shall be in occupation each year. Under one
of these acts, the term of payment is fixed at 22 years, and under a
later act, at 50 years.
Thus, if A own a life-estate in lands, and B the remainder, and the
estate needs draining, A may take such steps as to have the improvement
made, by borrowing the money, and repaying it by yearly payments, in
such sums as will pay the whole expenditure, with interest, in
twenty-two or fifty years: and if A die before the expiration of the
term, the succeeding occupants continue the payments until the whole is
paid.
A borrows, for instance, $1,000, and expends it in draining the lands.
It is made a charge, like a mortgage, on the land, to be paid in equal
annual payments for fifty years. At six per cent., the annual payment
will be but about $63.33, to pay the whole amount of debt and the
interest, in fifty years. A pays this sum annually as long as he lives,
and B then takes possession, and pays the annual installment.
If the tenant expend his own money, and die before the whole term
expire, he may leave the unpaid balance as a legacy, or part of his own
estate, to his heirs.
The whole proceeding is based upon the idea, that the rent or income of
the property is sufficiently increased, to make the operation
advantageous to all parties. It is assumed, that the operation of
drainage, under one of these statutes, will be effectual to increase the
rent of the land, to the amount of this annual payment, for at least
fifty years. The fact, that the British Government, after the most
thorough investigation, has thus pronounced the opinion, that drainage
works, properly conducted, will thus increase the rent of land, and
remain in full
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