South Dakota Codified Laws 58-27-71. Disposal of real estate acquired in satisfaction of debt, as part payment ofconsideration on sale of real estate, as gift or devise, or through merger,consolidation, or bulk reinsu
Current as of: 2023 | Check for updates
|
Other versions
Except as stated in § 58-27-72, the insurer shall dispose of real estate acquired under subdivisions 58-27-50(2), (3), and (4) within five years after the date of acquisition. The insurer may agree to sell such real estate by contract for deed upon the best terms obtainable.
Terms Used In South Dakota Codified Laws 58-27-71
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
Source: SL 1966, ch 111, ch 6, § 31 (2).