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South Dakota Foreclosure Laws

South Dakota foreclosures can be either judicial or non-judicial. If the mortgage in question contains a Power of Sale clause, the lender can pursue a foreclosure without the need for a court's ruling. In all other cases, judicial procedure is used to foreclose.

Judicial foreclosures begin when the lender files a lawsuit against the homeowner, who then must provide payment within a short amount of time. If they do not pay, the court will rule for the foreclosure sale of the homeowner's property in order to rectify the debt. If the foreclosure is non-judicial, no law requires the lender to notify the homeowner of the impending foreclosure.

To advertise the foreclosure, a Notice of Sale must appear for a number of weeks in a local newspaper before any sale can occur. The homeowner is entitled to receive the Notice of Sale at least 21 days in advance of the sale.

The Sheriff auctions off the homeowner's property to the highest bidder on the date in question. Once that person provides full payment, the Sheriff presents them with a Certificate of Sale awarding full ownership rights.

For properties under 40 acres in size there is a redemption period of 180 days, which can be invoked by paying off the full value of the original loan provided. In order to do so, the homeowner must inform the Sheriff of their intent before the sale occurs, otherwise no redemption rights are available.

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