Except as stated in § 58-27-72, the insurer shall dispose of real estate acquired under subdivisions 58-27-50(2), (3), and (4) within five years after the date of acquisition. The insurer may agree to sell such real estate by contract for deed upon the best terms obtainable.

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Terms Used In South Dakota Codified Laws 58-27-71

  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.

Source: SL 1966, ch 111, ch 6, § 31 (2).