Leases for more than three years to be by deed and other leases to be in writing

(1) Every lease for a term exceeding three years but not amounting to ten years shall be created by deed signed by the parties, and every lease not made in such manner shall have the force and effect of an agreement for a lease only. (2) Every agreement for a lease made in writing or orally under which the person to become lessee entered into possession of the land shall take effect and be construed as a tenancy from year to year commencing from the date of the entry into possession until the lease is actually executed. 11