South Dakota Codified Laws 21-19-28. Division and setting aside homestead exceeding limitations–Court order wheredivision not feasible
If the net value of the debtor‘s homestead being determined is more than the homestead exemption set by subdivision 43-45-3(2), the court shall determine whether it is feasible to divide such homestead so that the debtor retains his full homestead exemption as provided by law, which division, if feasible, shall be ordered made and the order shall provide that only that portion not set aside to the debtor is subject to levy. If the court finds that such division is not feasible, the court shall make an order to the effect that only that portion of the debtor’s homestead represented by the valuation of such homestead exemption plus any encumbrances is subject to levy.
Terms Used In South Dakota Codified Laws 21-19-28
- Court: means the court wherein the action is brought in which action the levy is made. See South Dakota Codified Laws 21-19-1
- Debtor: means a person on whose property levy has been made. See South Dakota Codified Laws 21-19-1
- Levy: means any garnishment, attachment, or any seizure or levy whatsoever under execution or any other judicial process for the purpose of satisfying or securing the claim or demand of a creditor. See South Dakota Codified Laws 21-19-1
Source: SL 1890, ch 86, § 1; RCCivP 1903, § 345; RC 1919, § 2658; SDC 1939, § 37.4909; SL 1957, ch 186, § 3; SL 1977, ch 185, § 2; SL 1978, ch 156, § 2.