One who has a lien inferior to another, upon the same property, has a right:

1. (1) To redeem the property in the same manner as its owner might, from the superior lien; and
2. (2) To be subrogated to all the benefits of the superior lien, when necessary for the protection of his interests, upon satisfying the claim secured thereby.

(Code 1923, §8936; Code 1940, T. 33, §2.)