South Dakota Codified Laws 44-8-22. Rights of payee of note given in payment of purchase price–Deficiency judgmentprohibition inapplicable unless note secured by real estate mortgage
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Nothing contained in § 44-8-20 or 44-8-21 shall affect the rights of a payee or other owner of a note given in payment of all or part of the purchase price of real estate unless such note is secured by a real estate mortgage.
Terms Used In South Dakota Codified Laws 44-8-22
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SL 1933, ch 138, § 4; SL 1935, ch 150, § 4; SDC 1939, § 39.0308.