44-1-8. Forfeiture of property to satisfy obligation secured by lien or restraint of right of redemption void.
All contracts for forfeiture of property subject to a lien in satisfaction of the obligation secured thereby and all contracts in restraint of the right of redemption from a lien are void.
Source: CivC 1877, §1707; CL 1887, §4331; RCivC 1903, §2027; RC 1919, §1532; SDC 1939, §39.0108.
Structure South Dakota Codified Laws
Chapter 01 - Definitions And General Provisions
Section 44-1-1 - Lien defined.
Section 44-1-2 - Classification of liens--Definition of terms--General lien--Special lien.
Section 44-1-3 - Application of general statutes to liens--Exception.
Section 44-1-4 - Creation of lien--Contract--Operation of law.
Section 44-1-5 - Security for performance of future obligations--Creation of lien.
Section 44-1-6 - Agreement to create lien on future interest--Attachment of lien.
Section 44-1-7 - Lien or contract of lien transfers no title to property.
Section 44-1-9 - Obligation to perform not implied from lien.
Section 44-1-10 - Lien limited to specified obligation.
Section 44-1-13 - Priority of lien securing future advances.