44-8-16. Prior or superior mortgage affecting real property--Failure of mortgagor or successor in interest to pay installment due--Payment by holder of inferior mortgage--Added to amount due on mortgage.
In case any installment of interest or principal upon any prior or superior mortgage shall become due and the mortgagor or his successor in interest shall fail to pay such interest or principal, the holder of any inferior mortgage on real estate may pay such interest or principal upon such prior mortgage, and the amount so paid shall thereupon be added to the amount due on the mortgage held by the person making such payment and may be included in such mortgage upon foreclosure of the same.
Source: SL 1923, ch 223; SDC 1939 & Supp 1960, ยง37.3009.
Structure South Dakota Codified Laws
Chapter 08 - Real Estate Mortgages
Section 44-8-1 - Creation, renewal, or extension of mortgage of real property--Formalities required.
Section 44-8-1.1 - Real property interests subject to mortgage.
Section 44-8-1.2 - After-acquired title of real property mortgagor.
Section 44-8-1.3 - Mortgagor not bound to personal performance.
Section 44-8-1.4 - Mortgage assigned with debt.
Section 44-8-1.5 - Security of mortgage protected against mortgagor's act.
Section 44-8-3 - Standard form of real estate mortgage.
Section 44-8-4 - Assignment of real estate mortgage--Standard form.
Section 44-8-5 - Satisfaction of real estate mortgage--Standard form.
Section 44-8-9 - Mortgage of real property--Acknowledgment or proof--Certification and recording.
Section 44-8-10 - Record of mortgage--Notice to subsequent purchasers and encumbrancers.
Section 44-8-11 - Instrument intended as mortgage of real property--Recording as mortgage necessary.
Section 44-8-12 - Defeasance, to effect grant absolute on its face, must be recorded.
Section 44-8-14 - Discharge of recorded mortgage--Certificate of release, contents, recording, fee.
Section 44-8-23 - Executory contract remedies unaffected by deficiency judgment provisions.
Section 44-8-25 - Deficiency judgment provisions not applicable to outside lenders.
Section 44-8-26 - Collateral real estate mortgages.
Section 44-8-27 - Due-on-sale clause defined.
Section 44-8-28 - Inclusion of due-on-sale clause in mortgage required for enforcement.
Section 44-8-29 - Definition of terms.
Section 44-8-30 - Certificate of release--Conditions.
Section 44-8-31 - Requirements of certificate of release.
Section 44-8-32 - Execution and acknowledgment of certificate of release--Appointment of agent.
Section 44-8-33 - Certificate of release prima facie evidence--Recording.
Section 44-8-34 - Recording certificate of release in multiple counties.
Section 44-8-35 - Application of certificate of release only to certain mortgages.