708. Enfranchisement of leaseholds where freehold mortgaged.

Where a conveyance is executed in pursuance of a tenant's statutory right1 to acquire the freehold of the leasehold house occupied by him, it operates to discharge the property from any charge on the landlord's estate to secure the payment of money, and to extinguish any term of years created for the purpose of the charge, and it does so without the persons entitled to or interested in the charge or term of years becoming parties to the conveyance