term for years

TERM FOR YEARS. An estate for years, (q.v.) and the time during which such 
estate is to be held, are each called a term; hence the term may expire 
before the time, as by a surrender. Co. Litt. 45. If, for example, a 
conveyance be made to Peter for three years, and after the expiration of the 
said term to Paul for six, and Peter surrenders or forfeits his term after 
one year, Paul's estate takes effect immediately; if, on the contrary, the 
language had been after the expiration of the said time, or of the said 
three years, the result would have been different, and Paul's estate would 
not have taken effect till the end of such time, notwithstanding the 
forfeiture or surrender. 
     2. Whatever be its duration, a term for years is less than an estate 
for life. If, therefore, the same person have a term for years and an estate 
for life immediately succeeding it, the term is merged; but if the order of 
the estates be reversed, that is, if the greater precede the less, there is 
no merger. Co. Litt. 54 b; Vin. Ab. Merger, F 4 and G 13; Godb. 51; Biss. on 
Est. c. 8, s. 1, n. 3, p. 186. Vide Estate for years; Leases.