411. Forfeiture of lease on bankruptcy.

A proviso in a lease of land that the lease should be forfeited on the tenant's bankruptcy1 is valid; and, where there is such a proviso and the tenant becomes bankrupt, no interest in the demised premises is divisible among the creditors2. However, a proviso of this kind applies only to the bankruptcy of the person in possession of the term created by the lease; if a tenant assigns his term and after the assignment becomes bankrupt, his bankruptcy does not operate to determine the lease

Popular documents