South Dakota Codified Laws 44-11-4. Foreclosure of mechanics’, laborers’, and materialmen’s liens–Action oradvertisement
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The lien may be foreclosed at any time after sixty days from the date of furnishing the last item. The foreclosure may be conducted according to the provisions of chapter 21-53 or according to the provisions of chapter 21-54, subject to the right of persons adversely interested to require foreclosure under chapter 21-53.
Terms Used In South Dakota Codified Laws 44-11-4
- 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.
Source: SL 1925, ch 216, § 1; SL 1927, ch 160, § 1; SDC 1939, § 39.0804.