The superior (unless the proprietor of the feu shall elect to have the compensation converted into an annual sum in terms of this Act) shall, on payment or tender of the compensation payable on the redemption of any casualties under this Act, be bound to discharge all right to the casualties so redeemed, and the discharge (which may be in the form set forth in Schedule B. annexed to this Act, or in a similar form) being recorded in the appropriate register of sasines, shall operate as a valid and effectual discharge of such casualties : Provided always that the proprietor of such feu shall be entitled, in his option and in lieu of such discharge, to obtain from the superior a receipt which need not be tested or holograph, and which without being recorded shall be as effectual as such recorded discharge : Provided further that when the superior shall have granted a heritable security affecting the superiority no discharge or receipt to be granted to the proprietor of the feu so redeeming shall be effectual without the consent of the creditor in such heritable security : Provided further that the superior and proprietor of the feu shall each respectively bear their own expenses of and incident to such discharge or receipt, but the stamp duty applicable to such discharge and the dues of recording the same in the appropriate register of sasines shall be borne by them equally.