South Dakota § 15-2-28 Mortgage presumed paid after fifteen years--Tolling provisions not applicable.

South Dakota Statutes

§ 15-2-28 — Mortgage presumed paid after fifteen years--Tolling provisions not applicable.

South Dakota·Title 15 CIVIL PROCEDURE·Ch. 15-1 LIMITATION OF ACTIONS GENERALLY

At the expiration of fifteen years from the date the cause of action accrues on any mortgage as provided in § 15-2-5 , such mortgage shall be conclusively presumed to have been paid and the mortgage and the record thereof shall cease to be notice of the mortgage as unpaid and the lien thereof shall then cease absolutely, and said period of fifteen years shall not be extended by nonresidence, legal disability, or partial payment.

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At the expiration of fifteen years from the date the cause of action accrues on any mortgage as provided in § 15-2-5 , such mortgage shall be conclusively presumed to have been paid and the mortgage and the record thereof shall cease to be notice of the mortgage as unpaid and the lien thereof shall then cease absolutely, and said period of fifteen years shall not be extended by nonresidence, legal disability, or partial payment.

South Dakota § 15-2-28 (Mortgage presumed paid after fifteen years--Tolling provisions not applicable.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.