43(1)Where in a mortgage or an obligation hereafter made for the payment of money or a transfer of mortgage or of such obligation, the sum, or any part of the sum, advanced or owing is expressed to be advanced by or owing to more than one person, out of money, or as money belonging to them on a joint account, or where a mortgage, or such an obligation, or such a transfer is made to more than one person, jointly, and not in shares, the mortgage money, or other money or money’s worth, for the time being, due to those persons on the mortgage or obligation, shall be deemed to be and remain money or money’s worth belonging to those persons on a joint account, as between them and the mortgagor or obligor, and the receipt in writing of the survivors or last survivor of them, or of the personal representatives of the last survivor, shall be a complete discharge for all money or money’s worth for the time being due, notwithstanding any notice to the payer of a severance of the joint account.

43(2)This section applies only if and as far as a contrary intention is not expressed in the mortgage, or obligation, or transfer, and shall have effect subject to the terms of the mortgage, or obligation, or transfer, and to the provisions therein contained.