381. Effect of mortgage transfer on arrears of rent or interest.

The conveyance to the transferee operates in the same manner as an ordinary conveyance of land, and gives the transferee a title to rents in arrear at the date of the transfer1. Where interest is in arrear at the date of transfer and the mortgagor does not concur, the transferee, on paying the arrears to the transferor, cannot treat them as principal so as to carry future interest