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Rights of puisne claimants against unregistered land subject to priority charges which are not permanent improvement charges.
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44.—(1) A priority charge on unregistered land which is not a permanent improvement charge against such land shall, as between the mortgagor and puisne claimants against such land, be deemed to be charged on all and every (if any) estate and interest· in such land to which the mortgagor was at the date of the registration of such priority charge in the Registry of Deeds or becomes at any time thereafter beneficially entitled in indemnification of all puisne claims against such land by puisne claimants.
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(2) All moneys paid to the Corporation by, or out of the share, estate, or interest of a puisne claimant (other than the mortgagor) against unregistered land on foot of a priority charge which is not a permanent improvement charge on such land shall be repaid to such puisne claimant by the mortgagor on demand with interest thereon at the rate of three per cent. per annum and until so repaid such moneys and the interest thereon shall be a debt due by the mortgagor to such puisne claimant and shall be deemed to be charged in favour of such puisne claimant on all and every (if any) estate and interest to which the mortgagor is beneficially entitled in such land or the proceeds of the sale thereof at the date of such payment to the Corporation.
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