South Dakota Codified Laws 32-3-38. Holder of security interest entitled to have notation of lien made by treasurer–Notification to department–Notation on instrument and certificate of title
The holder of a mortgage, trust receipt, conditional sales contract, mechanic’s lien, or similar instrument, upon presentation of the certificate of title to the office of the titled owner’s county treasurer, together with the fee prescribed by this chapter, may have a notation of the lien made on the certificate of title. The treasurer shall enter the notation and the date thereof over the signature of the officer or deputy and the seal of office. The treasurer on that day shall notify the department. The department shall note the lien on the state’s computer system, if the county treasurer has not done so.
Terms Used In South Dakota Codified Laws 32-3-38
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Seal: includes an impression of the seal upon the paper alone, as well as upon wax or a wafer affixed to the paper, and also the word "seal" written or printed on such paper. See South Dakota Codified Laws 2-14-2
Source: SDC 1939, § 44.0203 (1) as added by SL 1951, ch 229, § 3; SL 1965, ch 186, § 3; SL 1989, ch 257, § 38; SL 1993, ch 219, § 3; SL 1998, ch 171, § 6; SL 2003, ch 160, § 4.