South Dakota Codified Laws 44-8-14. Discharge of recorded mortgage–Certificate of release, contents, recording, fee
A recorded mortgage may be discharged upon the records of a register of deeds by filing for record and causing to be recorded at length a certificate signed by the mortgagee or his successor in interest by succession, assignment, representation, or otherwise, acknowledged, or proved and certified as prescribed by the statutes relating to recording acts, fully stating the names of the mortgagor, the mortgagee, the date of the mortgage, the date, county, state, book, and page of record of the mortgage, description of the mortgaged premises or part thereof sought to be released, and that the same are fully and completely released from all lien, force, and effect of the mortgage, or that the same is fully paid, satisfied, or discharged, or partially paid, satisfied, or discharged, and the extent thereof, as the case may be. The register of deeds shall record all such instruments upon the payment of the fee prescribed by law, and shall make note upon the margin of the record of the mortgage to the book and page where the discharge is recorded.
Terms Used In South Dakota Codified Laws 44-8-14
- 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.
- 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: CivC 1877, § 1735, subdivs 4, 5; CL 1887, §§ 4363, 4364; SL 1893, ch 119; RCivC 1903, §§ 2059, 2060; RC 1919, §§ 1563, 1564; SDC 1939, § 39.0214.