North Dakota § 15-03-14 - Conveyance of mortgaged land to state - Effect
Full text of North Dakota North Dakota Century Code § 15-03-14 — Conveyance of mortgaged land to state - Effect, with citation guidance and answers to common questions.
§ 15-03-14. Conveyance of mortgaged land to state - Effect
When a mortgage held by the state as security for the investment of permanent school funds of the state is in default and the foreclosure thereof is deemed advisable, the Bank of North Dakota, acting on behalf of the board of university and school lands, may accept from the owner of the record title of the land covered by the mortgage a deed conveying the land to the state. Such deed transfers and extinguishes all title, interest, and right of redemption of the grantor but does not extinguish the mortgage lien on the land. Such lien may be foreclosed subsequently in the manner provided by law. The deed may be recorded in the office of the recorder of the county wherein the land is situated, and the mortgage held by the state may be released and satisfied. A deed of conveyance from the date of its execution has the same legal effect for all purposes as a sheriff's deed would have if the mortgage involved had been foreclosed.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 15-03-14
What does North Dakota Century Code § 15-03-14 cover?
Section 15-03-14 ("Conveyance of mortgaged land to state - Effect") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 15-03-14?
A common citation format is "North Dakota Century Code § 15-03-14" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 15-03-14 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.