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Code · South Dakota · Title 21 · Chapter 21-47

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

51 words·~1 min read·/sd/title-21/chapter-21-47/21-47-17

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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.
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