By virtue of every such transfer as is herein mentioned, the right to sue upon any mortgage or other instrument and to recover any debt, sum of money, or damages under it, notwithstanding the same, is deemed or held to constitute a chose in action, and all interest in any such debt, sum of money or damages shall be transferred so as to vest the interest at law as well as in equity in the transferee of the interest; but nothing in this section shall prevent any court from giving effect to any trusts affecting such debt, sum of money or damages, in case the transferee as between himself or herself and any other person holds the same as a trustee.