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 of the person
through whom he claims, to make an entry or distress or to bring an action to
recover such land or rent, shall be deemed to have first accrued at the
determination of the first of such years or other periods, or at the last time
when any rent payable in respect of such tenancy has been received (whichever
last happens).