(2)If the original holding of any person included in a scheme of consolidation was burdened with a lease, mortgage or other encumbrance such lease, mortgage, or other encumbrance shall be transferred therefrom and attach itself to the holding allotted to him under the scheme or to such part of it as the Consolidation Officer may determine and the lessee, mortgagee or other encumbrancer, as the case may be, shall exercise his rights accordingly.
