278. Effect of notice of prior rights.

Prima facie an incumbrancer later in point of time may be entitled to priority over an earlier incumbrancer by reason of possession of the legal estate, or by notice to a debtor or to trustees or to an insurance office, by obtaining a stop order1, or by registration in the register of patents2. However, he will fail to gain this priority if he has notice of the earlier incumbrance at the time when he advances his money