44-8-1. Creation, renewal, or extension of mortgage of real property--Formalities required.

A mortgage of real property can be created, renewed, or extended only by writing, executed with the formalities required in the case of a grant of real property.

Source: CivC 1877, § 1722; CL 1887, § 4346; RCivC 1903, § 2042; RC 1919, § 1547; SDC 1939, § 39.0201.



SDLRC - Codified Law 44-8-1 - Creation, renewal, or extension of mortgage of real property--Formalities required.

44-8-1.1. Real property interests subject to mortgage.

Any interest in real property which is capable of being transferred may be mortgaged.

Source: CivC 1877, § 1727, subdiv 1; CL 1887, § 4351, subdiv 1; RCivC 1903, § 2047, subdiv 1; RC 1919, § 1551 (1); SDC 1939, § 39.0207 (1); repealed SL 1966, ch 150, § 10-102; re-enacted SL 1970, ch 251.



SDLRC - Codified Law 44-8-1 - Creation, renewal, or extension of mortgage of real property--Formalities required.

44-8-1.2. After-acquired title of real property mortgagor.

Title to real property acquired by the mortgagor subsequent to the execution of the mortgage inures to the mortgagee as security for the debt in like manner as if acquired before execution.

Source: CivC 1877, § 1727, subdiv 2; CL 1887, § 4351, subdiv 2; RCivC 1903, § 2047, subdiv 2; RC 1919, § 1551 (2); SDC 1939, § 39.0207 (2); repealed SL 1966, ch 150, § 10-102; re-enacted SL 1970, ch 251.



SDLRC - Codified Law 44-8-1 - Creation, renewal, or extension of mortgage of real property--Formalities required.

44-8-1.3. Mortgagor not bound to personal performance.

A real estate mortgage does not bind the mortgagor personally to perform the act for the performance of which it is a security unless there is an express covenant therein to that effect.

Source: CivC 1877, § 1727, subdiv 3; CL 1887, § 4351, subdiv 3; RCivC 1903, § 2047, subdiv 3; RC 1919, § 1551 (3); SDC 1939, § 39.0207 (3); repealed SL 1966, ch 150, § 10-102; re-enacted SL 1970, ch 251.



SDLRC - Codified Law 44-8-1 - Creation, renewal, or extension of mortgage of real property--Formalities required.

44-8-1.4. Mortgage assigned with debt.

The assignment of a debt secured by a real estate mortgage carries with it the security.

Source: CivC 1877, § 1727, subdiv 4; CL 1887, § 4351, subdiv 4; RCivC 1903, § 2047, subdiv 4; RC 1919, § 1551 (4); SDC 1939, § 39.0207 (4); repealed SL 1966, ch 150, § 10-102; re-enacted SL 1970, ch 251.



SDLRC - Codified Law 44-8-1 - Creation, renewal, or extension of mortgage of real property--Formalities required.

44-8-1.5. Security of mortgage protected against mortgagor's act.

No person whose interest is subject to the lien of a real estate mortgage may do any act which will substantially impair the mortgagee's security.

Source: CivC 1877, § 1733; CL 1887, § 4358; RCivC 1903, § 2054; RC 1919, § 1558; SDC 1939, § 39.0207 (5); repealed SL 1966, ch 150, § 10-102; re-enacted SL 1970, ch 251.