21-49-12. Clause subjecting mortgage to chapter--Caption required--Mortgagor's right to possession of property during redemption period.
Any mortgage containing the following statement in printed or typed capital letters: "THE PARTIES AGREE THAT THE PROVISIONS OF THE ONE HUNDRED EIGHTY DAY REDEMPTION MORTGAGE ACT GOVERN THIS MORTGAGE," shall be subject to the provisions of this chapter. Any mortgage executed under this chapter shall be entitled in printed or typed capital letters: "MORTGAGE--ONE HUNDRED EIGHTY DAY REDEMPTION." No mortgage made pursuant to this chapter shall contain any provisions whereby the mortgagor is denied the right to possession of the mortgaged property during the redemption period as provided in this chapter.
Source: SL 1963, ch 236, §5; SDCL, §21-49-2; SL 1977, ch 187, §2.
Structure South Dakota Codified Laws
Chapter 49 - Short-Term Redemption Mortgages
Section 21-49-13 - Provisions includable in mortgage--Satisfaction of notice requirements.
Section 21-49-16 - Service by publication.
Section 21-49-18 - Other recovery proceedings to be stated in complaint.
Section 21-49-19 - Money judgment as precluding foreclosure unless execution remains unsatisfied.
Section 21-49-20 - Recovery proceedings not allowed pending foreclosure action.
Section 21-49-21 - Time for defendant's answer.
Section 21-49-22 - Injunction against injury to property--Duration.
Section 21-49-24 - Sale by court-appointed officer--Levy not required.
Section 21-49-25 - Notice of sale--Contents.
Section 21-49-26 - Mortgagee may purchase at sale--Bid required.
Section 21-49-27 - Bid of less than full debt amount--Requirements--Execution for deficiency.
Section 21-49-28 - Foreclosure as complete satisfaction of debt.
Section 21-49-29 - Application of sale proceeds.
Section 21-49-31 - Redemption defined.
Section 21-49-32 - Waste of property restrained during redemption period.
Section 21-49-33 - Right of judgment debtor and lien holders to redeem.
Section 21-49-34 - Payments by persons redeeming.
Section 21-49-35 - Notice of redemption--Form--Recording.
Section 21-49-36 - Certificate of redemption--Contents.
Section 21-49-37 - Recording certificate of redemption.
Section 21-49-38 - Deed issued after short redemption or abandonment period--Maximum period.