The person named in
any certificate of title as the proprietor of an estate of freehold in
possession in the land therein described shall be held in every court of law
to be seised of the reversion and inheritance in the land immediately
expectant upon the term of any lease that may be mentioned as an encumbrance
in such certificate and to have all powers rights and remedies to which such a
reversioner is by law entitled and shall be subject to all the covenants and
conditions in such lease to be performed and observed by or on the part of the
lessor.