South Dakota Foreclosure Laws

Non judicial foreclosure is possible if a power of sale clause is contained in the loan document.

Judicial foreclosure is used when the power of sale clause is not in the loan documents or when the lender intends to pursue a deficiency judgment.

Deficiency: A deficiency is not allowed on purchase money mortgages.

Redemption: The time differs between 30 days and one year. Unless a special short term power of sale clause is contained in the loan document, or the property is abandoned, a borrower has one year to redeem the property.