21-48A-5. Redemption of real property by junior lienholder--Quit claim deed.
A lienholder of record may redeem real property which has been foreclosed by a mortgagee pursuant to this chapter. The redemption shall be made pursuant to §21-52-14. Upon payment, the mortgagee shall convey the property by quit claim deed to the redeeming junior lienholder.
Source: SL 1991, ch 185, §5.
Structure South Dakota Codified Laws
Chapter 48A - Nonjudicial Voluntary Foreclosure
Section 21-48A-1 - Voluntary foreclosure procedure--Notice.
Section 21-48A-2 - Lien released upon failure of junior lienholder to redeem.
Section 21-48A-3 - Possession of property by mortgagee.
Section 21-48A-4 - Judicial foreclosure action by junior lienholder before redemption period.
Section 21-48A-5 - Redemption of real property by junior lienholder--Quit claim deed.