South Dakota Codified Laws 44-8-13. Assignment of mortgage on real property–Recording–Acknowledgment or proof–Contents–Record as notice
An assignment of a mortgage on real property may be recorded in like manner as a mortgage when it is acknowledged or proved according to the statutes relating to proof of instruments for record and contains the name of the mortgagor, the mortgagee, the assignee and the assignee’s post-office address, the date of the mortgage, the date, county, state, book, and page of record of the mortgage and full description of the premises as described in the mortgage. This record serves as notice to all parties in interest or parties subsequently dealing with the property. No more than one assignment may be listed on the instrument.
Terms Used In South Dakota Codified Laws 44-8-13
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: CivC 1877, § 1735, subdiv 1; CL 1887, § 4360; RCivC 1903, § 2056; SL 1907, ch 190; RC 1919, § 1560; SDC 1939, § 39.0212; SL 1983, ch 305, § 3; SL 2012, ch 51, § 4.