When any person is in possession or in receipt of the profits of any land or
in receipt of any rent as tenant from year to year or other period without any
lease in writing, the right of the person entitled subject thereto or the
person through whom he claims to make an entry or distress or bring an action
to recover that land or rent shall be deemed to have first accrued at the
determination at the first of such years or other period or at the last time
any rent has been received whichever first happens.