Statutes, codes, and regulations
South Dakota Codified Laws
Title 21 - JUDICIAL REMEDIES
Chapter 49 - SHORT-TERM REDEMPTION MORTGAGES
Section 21-49-12 - Clause subjecting mortgage to chapter-Caption required-Mortgagor's right to possession of property during redemption period

S.D. Codified Laws § 21-49-12

Download
PDF
Current through the 2024 Legislative Session
Section 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.

SDCL 21-49-12

SL 1963, ch 236, § 5; SDCL, § 21-49-2; SL 1977, ch 187, § 2.