South Dakota Codified Laws 44-8-11. Instrument intended as mortgage of real property–Recording as mortgage necessary
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Every grant of real property, or of any estate therein, which appears, by any other writing, to be intended as a mortgage, must be recorded as a mortgage; and if such grant and other writing explanatory of its true character are not recorded together at the same time and place, the grantee can derive no benefit from such record.
Terms Used In South Dakota Codified Laws 44-8-11
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: CivC 1877, § 1740; CL 1887, § 4370; RCivC 1903, § 2070; RC 1919, § 1574; SDC 1939, § 39.0306.