This is confirmed by the Pollock case
where the Court quoted four legal accepted sources that said:
Quoting Washburn on Real Property, it is said that “a devise [i.e., a gift of land or reality by last will and testament] of the rents and profits of land, or the income of land, is equivalent to a devise of the land itself, and will be for life or in fee, according to the limitation expressed in the devise.” Pollock at page 589. [Explanation added]
Quoting Jarman on Wills, it is laid down that “a devise of the rents and profits or of the income of land passes the land itself, both at law and in equity; a rule, it is said, founded on the feudal law, according to which the whole beneficial interest of the land consisted in the right to take the rents and profits.” Pollock at page 589.
Quoting Coke upon Littleton: “If a man seized of lands in fee by his deed granteth to another the profits of those lands, to have and to hold to him and his heires, and maketh livery secundum formam chartae, the whole land itselfe, doth passé; for what is the land but the profits thereof?” Pollock at page 590.
Quoting Goldin v. Lakeman, Lord Tenterden, Chief Justice of the court of the king’s bench, to the same effect, said, “‘It is an established rule that a devise of the rents and profits is a devise of the land.’ And, in Johnson v. Arnold, Lord Chancellor Hardwicke reiterated profits of lands is a devise of the lands themselves’ profits of lands is a devise of the lands themselves.” Pollock at page 590