512. Effect of severance of equities of redemption.

Where the equities of redemption1 have been severed, whether by sale or further mortgage, or by settlement, voluntary or otherwise2, the existence of the right of consolidation3 against the assignee of one equity of redemption depends on whether it had attached before the severance. This may be either because both mortgages were prior to the severance and were made to the same mortgagee4, or because, although made to different mortgagees, they had become vested in the same person before the severance