South Dakota Codified Laws 21-52-10. Hearing and determination of amount required to redeem separate tract–Certificateof redemption–Credit on price paid at sale
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The court shall hear an action brought under § 21-52-8 at a regular or special term, shall have the power to extend all time of redemption pending the determination of such action, and by its decree shall determine the amount required to redeem the lands described in plaintiff‘s complaint; and adjudge that upon payment of such sum, a certificate of redemption shall issue to plaintiff and the amount paid by him shall be credited upon the price paid by the purchaser at foreclosure or execution sale, and the amount required to redeem the balance of the property shall be reduced accordingly.
Terms Used In South Dakota Codified Laws 21-52-10
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1949, ch 142, § 15; SDC Supp 1960, § 37.5615.