South Dakota Codified Laws 28-14-13. Rent or sale of real property acquired by foreclosure of lien–Crediting of moneysreceived
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In all cases of real property acquired under these statutes, the board of county commissioners is authorized to rent or sell the same in the same manner as provided for other real property acquired by the county through foreclosure of school fund mortgages, and all moneys received thereby shall be credited to the respective funds from which the money was drawn to establish the lien.
Terms Used In South Dakota Codified Laws 28-14-13
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: SDC 1939, § 39.1705.