This chapter shall be construed to effect the legislative purpose of simplifying and facilitating land title transactions by allowing persons to deal with the record title owner as defined herein; to rely upon the record title covering a period twenty–three years prior to the date of an affidavit of possession made and recorded as prescribed by § 43-30-7, and to that end to bar all claims that affect or may affect the interest thus dealt with, the existence of which claim arises out of or depends upon any act, transaction, event, or omission antedating a period twenty–two years prior to the date of an affidavit made and recorded as prescribed by § 43-30-7, unless a notice of such claim, as provided in § 43-30-5, shall have been duly filed for record.

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Source: SL 1947, ch 233, § 10; SL 1951, ch 256, § 10; SL 1957, ch 266, § 5; SDC Supp 1960, § 51.16B10.