South Dakota Codified Laws 47-21-46.5. Assignment or discharge of trust deed or mortgage
Any trust deed or mortgage described in § 47-21-46 to 47-21-46.3, inclusive, may be assigned or discharged by filing for record in the Office of the Secretary of State and in the Office of the Register of Deeds of each county, if any, in which the trust deed or mortgage has been filed for record an instrument of assignment or discharge executed in the manner and providing the information required with respect to real estate mortgages by §§ 44-8-13 and 44-8-14, respectively. However, no such instrument need provide the description of the mortgaged property, except that an instrument of discharge whereby less than all the mortgaged property is released from the lien of the trust deed or mortgage shall provide the full description of, or clearly identify by reference to numbered or lettered portions of the descriptions as the same appears in the trust deed or mortgage, the property so released.
Terms Used In South Dakota Codified Laws 47-21-46.5
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 2009, ch 233, § 5.