5-9-23. Forfeiture of installment contract for delinquency or violation--Retention of purchase money and improvements as liquidated damages--Immediate right to reentry and possession.
The deferred payments for lands sold and the interest thereon shall be paid promptly when due to the commissioner of school and public lands. Whenever the purchaser of any tract shall fail to pay the principal and interest due by him to the state for such tract within three months after same shall become due or shall violate any of the provisions of the contract of sale, such contract shall be null and void and he shall forfeit the amount of purchase money and interest paid on the purchase of said land, and all right, title, and interest in all improvements thereon, and such payments and improvements shall be retained by the state for the same purposes for which the proceeds of sale from such lands are used, in full satisfaction and in liquidation of all damages for the use and possession of said property by the purchaser; and the state shall have immediate right to reenter and take possession of said real estate.
Source: SL 1911, ch 224, §42; RC 1919, §5666; SL 1919, ch 306, §3; SL 1929, ch 221; SDC 1939, §15.0309; SL 1988, ch 49, §2.
Structure South Dakota Codified Laws
Title 5 - Public Property, Purchases and Contracts
Chapter 09 - Sale Of School And Public Lands
Section 5-9-1 - Selection of school and endowment lands to be sold--Amount sold each year.
Section 5-9-4 - Designation and appraisal of separate tracts for sale--Reappraisal of unsold land.
Section 5-9-5 - Offer to purchase particular tract--Forfeiture or return of payment.
Section 5-9-6 - Publication of notice of land sale--Selection and appraisal to be concurrent.
Section 5-9-7 - Certification and publication of description and appraised price of land offered.
Section 5-9-8 - Commissioner to conduct sales.
Section 5-9-9 - Time and place of sale--Minimum price--Adjournment of sale--Record of sales.
Section 5-9-10 - Terms of installment sale--Interest--Prepayment option.
Section 5-9-11 - Notice to lessee of sale.
Section 5-9-12 - Successful bidder's deposit with commissioner.
Section 5-9-13 - Time of vesting of right or title after sale.
Section 5-9-17 - Return of purchaser's deposit on governor's disapproval of sale.
Section 5-9-24 - Procedure for forfeiture of installment contract--Service of notice.
Section 5-9-25 - Recording of notice of default--Prima facie evidence.
Section 5-9-26 - Reinstatement of contract on compliance by purchaser with conditions of notice.
Section 5-9-27 - Action at law to set aside installment contract in default.
Section 5-9-28 - Taxability of land sold--Notice to county auditor of disapproval of sale.
Section 5-9-30 - Special contract of sale given to tax purchaser after issuance of tax deed.
Section 5-9-33 - Issuance to bankrupt of patent to land set aside as homestead.
Section 5-9-34 - Sale for public purposes of tract not exceeding one hundred sixty acres.
Section 5-9-35 - Conveyance of tract not exceeding one hundred sixty acres--Reversion to state.
Section 5-9-36 - Sale of improvements on school and public lands authorized.
Section 5-9-37 - Appraisal and minimum price of improvements offered for sale--Disapproval of sale.
Section 5-9-38 - Publication of notice of sale of improvements--Private sales of small value.
Section 5-9-39 - Conservation easement for certain state land conveyed to another party.