South Dakota Codified Laws
Chapter 48 - Foreclosure Of Real Property Mortgage By Advertisement
Section 21-48-5 - Mortgage for installments deemed separate mortgage for each installment--Effect of redemption by installments.

21-48-5. Mortgage for installments deemed separate mortgage for each installment--Effect of redemption by installments.
In cases of mortgages given to secure the payment of money by installments, each of the installments mentioned in such mortgage, after the first, shall be taken and deemed to be a separate and independent mortgage, and such mortgage, for each of such installments, may be foreclosed in the same manner, and with like effect, as if such separate mortgage were given for each subsequent installment; and a redemption of any such sale shall have like effect as if the sale for such installment had been made upon a prior, independent mortgage.

Source: CCivP 1877, §599; CL 1887, §5413; RCCivP 1903, §638; RC 1919, §2878; SDC 1939 & Supp 1960, §37.3003.

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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.