For purposes of releasing a mortgage, a certificate of release containing the information and statements provided for in § 44-8-31 and executed as provided in §§ 44-8-30 to 44-8-35, inclusive, is prima facie evidence of the facts contained in it, shall be recorded with the county register of deeds, and operates as a release of the mortgage described in the certificate of release. The county register of deeds shall rely upon the certificate of release to release the mortgage. Recording of a wrongful or erroneous certificate of release by a title insurance company or its agent does not relieve the mortgagor, or the mortgagor’s successors or assigns, from any personal liability on the loan or other obligations secured by the mortgage. In addition to any other remedy provided by law, a title insurance company wrongfully or erroneously recording a certificate of release under §§ 44-8-30 to 44-8-35, inclusive, is liable to the mortgagee for damages sustained due to the recordings of the certificate of release, including reasonable attorney fees.

Terms Used In South Dakota Codified Laws 44-8-33

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • 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.

Source: SL 1997, ch 251, § 5.

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