516. Person in whom mortgages are united.

Where mortgages over distinct properties have been granted by the same mortgagor, the right of consolidation1 may be exercised by the person in whom the mortgages are united, whether he is the original mortgagee, or whether the mortgages or one of them have come to him by assignment or devolution2. It is immaterial whether he holds on his own account or as trustee3. Although he may consolidate notwithstanding that such union has taken place after the mortgagor's bankruptcy4, he cannot, to the prejudice of other creditors, consolidate, with a prior security held by him, a security for an advance