South Dakota Statutes
§ 21-47-15 — Purchase by mortgagee at sale--Fair and reasonable bid required.
In any foreclosure of a mortgage upon real estate by action, the holder of the mortgage may purchase the mortgaged premises, or any part thereof, at such foreclosure sale, if the holder of the mortgage bids fairly and in good faith, and bids the fair and reasonable value thereof, less the sum of the balances due, as of the date of sale, on any prior liens or encumbrances upon the mortgaged premises, including liens or charges for real property taxes and special assessments. In no event may the holder of the mortgage be required to bid a sum in excess of the debt adjudged by the court to be due, with costs and disbursements taxed in the action in which the sale is made, and costs and expenses of the sale.
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South Dakota § 21-47-15 (Purchase by mortgagee at sale--Fair and reasonable bid required.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Paradigm Hotel Mortgage Fund v. Sioux Falls Hotel Co.
511 N.W.2d 567 (South Dakota Supreme Court, 1994)
Perpetual National Life Insurance Co. v. Brown
182 N.W.2d 216 (South Dakota Supreme Court, 1970)
Todd v. Winkelman
320 N.W.2d 525 (South Dakota Supreme Court, 1982)
Miners & Merchants Bank v. Braden Forestry Services, Inc.
374 N.W.2d 123 (South Dakota Supreme Court, 1985)
Federal Land Bank of Omaha v. Carlson
411 N.W.2d 415 (South Dakota Supreme Court, 1987)
Wolken v. Bunn
422 N.W.2d 417 (South Dakota Supreme Court, 1988)
Sinclair Marketing, Inc. v. Marx
426 N.W.2d 309 (South Dakota Supreme Court, 1988)
Legislative History
SL 1939, ch 146, § 1; SDC Supp 1960, § 37.29
Nearby Sections
15
§ 21-1-11
Repealed§ 21-1-13
Repealed§ 21-1-13.2
Application of interest statutes.§ 21-1-14
Liability of issuer of bad check for collection costs--Costs included in restitution award.§ 21-1-15
Definitions.§ 21-1-3
Damages to be reasonable.