7. In this case(A;) a tenant for life, not bound to. renew, renewed a
term of which there were 12 years to run for a further term of 28 years,
and died at the expiration of 9 years from the commencement of such
further term. The question was as to the sum in which her estate should
be recouped by the remainderman. " The Master," observed the court,
" should take the sum paid by her for the renewal of the lease as the
value of the term purchased — that is, of the term of 28 years, to com-
mence at the expiration of 12 years. He should then consider the value
of the term of 9 years after the existing term (viz. the 12 years), and
what the term of 19 years after the existing term and the 9 years was
worth ; and the latter is the proportion of the fine actually paid to be
borne by the remainderman :" and on such sum he directed compound in-
terest at 4 per cent, to be calculated.
*Here there is an intelligible rule as regards leaseholds for r#na('-f
years. The tenant for life is considered as purchasing at the time L J
of the renewal a reversionary term, equal to that which he actually en-
joys, and the residue of the fine is to be borne by the remainderman.
