SDCL § 43-11-29: Power to sell real property given as security for payment of money as part of the security.

Where a power to sell real property is given to a mortgagee or other encumbrancer in an instrument intended to secure the payment of money, the power is to be deemed a part of the security and vests in any person who by assignment becomes entitled to the money so secured to be paid and may be executed by him whenever the assignment is duly acknowledged and recorded.