No lease of any building, land or tenement, for life or for any term exceeding one year or which provides for the renewal thereof or an option to purchase such building, land or tenement, shall be effectual against any persons other than the lessor and lessee and their respective heirs, successors, administrators and executors, unless it is in writing, executed, attested, acknowledged and recorded in the same manner as a deed of land, provided a notice of lease in writing, executed, attested, acknowledged and recorded in the same manner as a deed of land and containing

1. (1) the names and addresses, if any are set forth in the lease, of the parties to the lease,
2. (2) a reference to the lease, with its date of execution,
3. (3) the term of the lease with the date of commencement and the date of termination of such term,
4. (4) a description of the property contained in the lease,
5. (5) a notation if a right of extension or renewal is exercisable,
6. (6) if there is an option to purchase, a notation of the date by which such option must be exercised and
7. (7) a reference to a place where the lease is to be on file shall be sufficient.

(1949 Rev., S. 7102; 1959, P.A. 173; 1961, P.A. 205; February, 1965, P.A. 402.)

History: 1959 act added proviso re sufficiency of lease notice; 1961 act broadened provision re effectual lease to include reference to “lessee”, “successors, administrators and executors”; 1965 act required, for sufficiency of notice of lease, inclusion of addresses of parties to lease, reference to lease with date of execution, dates of commencement and termination of lease term, notation if extension or renewal right may be exercised and if there is a purchase option, notation of deadline for exercising the option.