Any party in right of an entailer’s debt or of any other debt, or of any provision to a husband, widow, or younger child, affecting or that may be made to affect the fee of any entailed estate in Scotland, and who before the expiry of one year from the date of recording an instrument of disentail of such estate in the register of tailzies shall use and record inhibition in reference to such debt against the heir of entail in possession of such estate for the time, shall be entitled to affect such estate in respect of such debt or provision as if no such instrument of disentail had been recorded as aforesaid, and no debt or charge on such estate, or right whatsoever therein, which would not have competed with such debt or provision had such instrument of disentail not been recorded, shall be allowed to compete therewith by reason of the recording of such instrument of disentail.