(1) The order of priority of more than one right by which a plot of land is encumbered is determined, if the rights are entered in the same division of the Land Register, by the sequence of the entries. If the rights are entered in different divisions, then the right entered stating an earlier date has priority; rights that are entered stating the same date have the same priority.
(2) The entry determines the order of priority even if the agreement required under section 873 for the acquisition of the right has come into existence only after the entry.
(3) A determination of the order of priority in derogation herefrom requires an entry to be in the Land Register.