South Dakota · TitleSouth Dakota old mortgages: conclusively presumed paid 15 years after maturity

South Dakota puts a firm end date on old mortgage liens. A cause of action to foreclose accrues on the last maturity date of the secured debt stated in, or ascertainable from, the recorded mortgage or a recorded extension; if no maturity date can be found, it accrues fifteen years after the date of the mortgage (SDCL 15-2-5). Foreclosure, by action or by advertisement, must be commenced within fifteen years after the claim accrues, with no extension for nonresidence, legal disability, partial payment or a new promise other than a recorded extension (SDCL 15-2-7). When those fifteen years expire, the mortgage is conclusively presumed paid, the mortgage and its record cease to be notice of an unpaid mortgage, and the lien ceases absolutely (SDCL 15-2-28). Separately, a person in possession with an unbroken chain of record title for twenty-two years or more has marketable record title, subject to instruments recorded less than twenty-two years ago and encumbrances not barred by limitations (SDCL 43-30-1), and older claims are barred unless a verified notice was filed in time (SDCL 43-30-3).