{"parents":[{"StatuteId":2045770,"Type":"Title","Statute":"21"},{"StatuteId":2046673,"Type":"Chapter","Statute":"47"},{"StatuteId":2046663,"Type":"Section","Statute":"17"}],"Previous":"21-47-16","Next":"21-47-18","StatuteId":2046663,"Statute":"21-47-17","Type":"Section","CatchLine":"Foreclosure as complete satisfaction of debt--Exception. ","FilePath":null,"FileName":null,"Htmlpath":null,"Htmlfilename":null,"Title":21,"TitleLetter":null,"Chapter":47,"ChapterLetter":null,"Section":17,"SubSec":0,"SubSection":null,"Word":null,"Html":"

21-47-17. Foreclosure as complete satisfaction of debt--Exception.

Except as provided by § 21-47-16, a foreclosure by action of a mortgage upon real estate operates as a complete extinguishment, satisfaction and payment of the debt secured by the mortgage. However, a foreclosure may not be considered to be satisfaction of an assignment of rents agreement under the mortgage.

Source: SL 1939, ch 146, § 2; SDC Supp 1960, § 37.2911-1; SL 1983, ch 172.

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