South Dakota Codified Laws 32-3-37. Sale of encumbered vehicle with knowledge of lien holder–Effect against subsequent purchasers
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Exposure for sale of any motor vehicle, trailer, or semitrailer by the owner thereof, with the knowledge and consent of the holder of any lien, mortgage, or encumbrance thereon, shall not render the same void or ineffective as against subsequent purchasers or the creditors of such owner or the holders of subsequent liens, mortgages, or encumbrances upon such motor vehicles, trailers, or semitrailers.
Terms Used In South Dakota Codified Laws 32-3-37
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SDC 1939, § 44.0203 (1) as added by SL 1951, ch 229, § 3; SL 1965, ch 186, § 3.