South Dakota Codified Laws
Chapter 48 - Foreclosure Of Real Property Mortgage By Advertisement
Section 21-48-3 - Default required before foreclosure.

21-48-3. Default required before foreclosure.
To entitle any party to foreclose by advertisement, it shall be necessary that some default in a condition of such mortgage shall have accrued, by which the power to sell has become operative.

Source: CCivP 1877, §598, subdiv 1; CL 1887, §5412, subdiv 1; RCCivP 1903, §637, subdiv 1; RC 1919, §2877 (1); SDC 1939 & Supp 1960, §37.3002 (1).

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 21 - Judicial Remedies

Chapter 48 - Foreclosure Of Real Property Mortgage By Advertisement

Section 21-48-1 - Foreclosure by advertisement available if mortgage contains power of sale.

Section 21-48-2 - Recording of mortgage and assignments required before foreclosure.

Section 21-48-3 - Default required before foreclosure.

Section 21-48-4 - Foreclosure not permitted after action at law to recover debt unless execution returned unsatisfied.

Section 21-48-5 - Mortgage for installments deemed separate mortgage for each installment--Effect of redemption by installments.

Section 21-48-6 - Publication of notice of foreclosure--Contents of notice.

Section 21-48-6.1 - Written notice of foreclosure sale required--Time--Parties.

Section 21-48-7 - Validation of prior foreclosures by receivers and personal representatives--Rights barred by no action.

Section 21-48-8 - Continuation of foreclosure proceedings despite changes in county boundaries or status.

Section 21-48-9 - Application by mortgagor or other interested party to require foreclosure by action--Injunction against foreclosure by advertisement--Service on mortgagee.

Section 21-48-10 - Time and place of sale--Officer making sale.

Section 21-48-11 - Postponement of sale--Notice.

Section 21-48-12 - Sale by parcels--Sale terminated when sufficient amount raised.

Section 21-48-13 - Purchase by mortgagee at sale.

Section 21-48-14 - Proof of value required for deficiency judgment after purchase by mortgagee--Other purchasers unaffected--Negotiability of instruments protected.

Section 21-48-15 - Costs, disbursements and attorney fees allowed from proceeds of sale.

Section 21-48-16 - Surplus proceeds of sale paid to clerk of court--Notice to mortgagor and junior lien holders of deposit of surplus.

Section 21-48-17 - Investment of surplus proceeds deposited with clerk.

Section 21-48-18 - Cancellation or endorsement of evidence of debt on application of proceeds of sale.

Section 21-48-19 - Certificate of sale given to purchaser--Contents--Execution and recording.

Section 21-48-20 - Prior certificates validated despite delay in recording--Rights barred by no action.

Section 21-48-21 - Deed given on expiration of time for redemption--Mortgagor entitled to harvest crops planted before issuance of deed.

Section 21-48-22 - Validation of prior proceedings on which deed issued--Time allowed for protection of existing rights.

Section 21-48-22.1 - Prior foreclosure sales validated despite defects--Rights barred by no action.

Section 21-48-23 - Record of foreclosure sale--Affidavits and certificate recorded--Notation by register of deeds.

Section 21-48-24 - Affidavits recorded to show compliance with federal acts.

Section 21-48-25 - Interest vested in purchaser by recording of instruments.

Section 21-48-26 - Validation of sales prior to January 1, 1982--Pending proceedings.