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The mutual or successive relationship to the same rights of property.PRIVITY OF CONTRACT. The relation which subsists between two contracting parties.
From the nature of the covenant entered into by him, a lessee has both privity of contract and of estate; and though by an assignment of his lease he may destroy his privity of estate, still the privity of contract remains, and he is liable on his covenant notwithstanding the assignment.PRIVITY OF ESTATE. The relation which subsists between a landlord and his tenant.
It is a general rule that a termor cannot transfer the tenancy or privity of estate between himself and his landlord, without the latter's consent: an assignee, who comes in only in privity of estate, is liable only while he continues to be legal assignee; that is, while in possession under the assignment.