1300. Identity of grantor of new lease.

Where a lease is executed to give effect to the statutory provisions relating to extension of leases1, the new tenancy2 must be granted3 by the landlord having an interest sufficient in point of duration which is not superior to another such interest4.

The lease has effect5 for the creation of the new tenancy, and for the operation of the rights and obligations conferred and imposed by it, as if there had been a surrender and regrant of any subsisting tenancy intermediate between the interest of the landlord granting the new tenancy and the tenancy in possession6; and the covenants and