109 Priority of transfers of mortgages
certificate of title has been granted may be transferred by a transfer
in the prescribed form and the transfer shall be registered in the
same manner as mortgages, encumbrances and leases are
registered, and transferees have priority according to section 14.
(2) Any mortgagee may transfer a part of the sum secured by the
mortgage by a transfer in the prescribed form, and the part so
transferred continues to be secured by the mortgage and may be
given priority over the remaining part or may be deferred or may
continue to rank equally with it under the security of the original
mortgage, as stated in the transfer, and the Registrar shall enter on
the certificate of title a memorandum of the amount of the
mortgage so transferred, the name of the transferee, and how the
sum so transferred is to rank.
RSA 1980 cL-5 s110;1985 c48 s2(24)