72. Rights of tenants in possession.

A tenant under an agreement for a lease or under a lease which is not effective to create a legal estate1 has an equitable interest under the agreement with his landlord2, and, in addition, if he goes into possession and pays rent on a yearly basis, he acquires a legal tenancy from year to year on the same terms and conditions as are contained in his agreement so far as those terms and conditions are applicable to a yearly tenancy