South Dakota Codified Laws
Chapter 08 - Real Estate Mortgages
Section 44-8-20 - Deficiency in amount of purchase money mortgage given after June 30, 1933--Nonexistent after foreclosure of mortgage.

44-8-20. Deficiency in amount of purchase money mortgage given after June 30, 1933--Nonexistent after foreclosure of mortgage.
No claim for any deficiency in the amount secured by any real estate mortgage given after June 30, 1933, to secure all or any part of the purchase price of such real estate shall exist after the foreclosure of such mortgage by action or advertisement, but such foreclosure shall be a full satisfaction of such mortgage and no deficiency judgment shall thereafter exist or be rendered.

Source: SL 1933, ch 138, §§1, 2; SL 1935, ch 150, §§1, 2; SDC 1939, §39.0308.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 44 - Liens

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 44-8-2 - Power of attorney to execute mortgage of real property must be in writing--Signature, acknowledgment, or proof--Recording.

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 44-8-6 - Adoption of standard forms--Use of other forms not precluded--Name and post office address of mortgagee or assignee required.

Section 44-8-7 - Real estate mortgages--Prohibited provisions--Exception--Federal land bank mortgages.

Section 44-8-8 - Validation of recorded real estate mortgages containing prohibited provisions--Notice to subsequent purchasers, encumbrancers or creditors--Rights of good faith purchasers or encumbrancers prior to July 1, 1949--Rights barred by no a...

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 44-8-13 - Assignment of mortgage on real property--Recording--Acknowledgment or proof--Contents--Record as notice.

Section 44-8-14 - Discharge of recorded mortgage--Certificate of release, contents, recording, fee.

Section 44-8-15 - Mortgages affecting real property--Defective assignments or discharges recorded prior to July 1, 1939, legalized--Rights or purchasers or encumbrancers protected--Use as evidence--Rights barred by no action.

Section 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.

Section 44-8-17 - Real property sold on execution or on mortgage foreclosure--Renewal of insurance by purchaser--Payments of taxes or assessments by purchaser--Addition to cost of redemption from sale.

Section 44-8-18 - Past due installments of interest and principal on superior mortgage affecting real property--Payment by holder of inferior mortgage--Insurance, taxes, and assessments paid by purchaser at sale on execution or mortgage foreclosure--...

Section 44-8-19 - Bond to redeem without paying insurance, taxes or prior liens--Action on bond to determine validity.

Section 44-8-20 - Deficiency in amount of purchase money mortgage given after June 30, 1933--Nonexistent after foreclosure of mortgage.

Section 44-8-21 - Mortgage securing note for purchase price of real estate--Nonnegotiability--Enforcement of liability--Endorsement of note.

Section 44-8-22 - Rights of payee of note given in payment of purchase price--Deficiency judgment prohibition inapplicable unless note secured by real estate mortgage.

Section 44-8-23 - Executory contract remedies unaffected by deficiency judgment provisions.

Section 44-8-24 - Deficiency judgment prohibition inapplicable to purchase money mortgage or notes held by federal agencies and instrumentalities.

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.