No claim for any deficiency in the amount secured by any real estate mortgage given after June 30, 1933, to secure all or any part of the purchase price of such real estate shall exist after the foreclosure of such mortgage by action or advertisement, but such foreclosure shall be a full satisfaction of such mortgage and no deficiency judgment shall thereafter exist or be rendered.
S.D. Codified Laws § 44-8-20
Deficiency in amount of purchase money mortgage given after June 30, 1933--Nonexistent after foreclosure of mortgage
Applied in 2 court decisions — leading case Perpetual National Life Insurance Co. v. Brown (1970)
Most recently applied in Wolken v. Bunn (April 1988)
Source: SL 1933, ch 138, §§ 1, 2; SL 1935, ch 150, §§ 1, 2; SDC 1939, § 39.0308.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.