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12. The right of the mortgagor, under section fifteen of the Conveyancing Act of 1881, to require a mortgagee, instead of re-conveying, to assign the mortgage debt and convey the mortgaged property to a third person, shall belong to and be capable of being enforced by each incumbrancer, or by the mortgagor, notwithstanding any intermediate incumbrance; but a requisition of an incumbrancer shall prevail over a requisition of the mortgagor, and, as between incumbrancers, a requisition of a prior incumbrancer shall prevail over a requisition of a subsequent incumbrancer.
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[S. 13 and. Sched. (repealing 3 & 4 Will. 4, c. 74. s. 84 from “and the same judge” to the end of the section, and ss. 85–88; 4 & 5 Will. 4, c. 92. s. 75, from “and the same judge” to the end of the section, and ss. 76–79; 17 & 18 Vict. c. 75; 41 & 42 Vict. c. 23) rep. 61 & 62 Vict. c. 22 (S.L.R.)]
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