South Dakota Codified Laws 58-29B-75. Lien by legal or equitable proceedings–Superiority to rights of transferee
A lien obtainable by legal or equitable proceedings could become superior to the rights of a transferee, or a purchaser could obtain rights superior to the rights of a transferee within the meaning of §§ 58-29B-69 to 58-29B-72, inclusive, if such consequences would follow only from the lien or purchase itself, or from the lien or purchaser, with or without the aid of ministerial action by public officials. Such a lien could not, however, become superior and such a purchase could not create superior rights for the purpose of §§ 58-29B-69 to 58-29B-72, inclusive, through any acts subsequent to the obtaining of such a lien or subsequent to such a purchase which require the agreement or concurrence of any third party or which require any further judicial action or ruling.
Terms Used In South Dakota Codified Laws 58-29B-75
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Lien: A claim against real or personal property in satisfaction of a debt.
Source: SL 1989, ch 436, § 75.