South Dakota Codified Laws 21-48A-2. Lien released upon failure of junior lienholder to redeem
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A junior lienholder may redeem the real property pursuant to § 21-48A-5. If a junior lienholder fails to redeem its lien as provided in this chapter, its lien shall be released from the property.
Terms Used In South Dakota Codified Laws 21-48A-2
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: SL 1991, ch 185, § 2.