107 Postponements
encumbrance, lease or other instrument or a caveat registered
against land may postpone the person's rights under it by filing a
postponement in the prescribed form.
(2) The registration of a postponement has the effect of postponing
the rights under the postponed instrument or caveat to the rights
under the instrument or caveat to which it is postponed in the same
way and to the same extent as if the postponed instrument or caveat
had been registered after the instrument or caveat to which it is to
be postponed.
1985 c48 s2(23)