Attorney General’s Office
1302 E Hwy 14
Suite 1
Pierre SD 57501-8501
Tel: (605)773-3215
Fax: (605)773-4106
www.state.sd.us/attorney
Type of Document: Mortgage
Types of Foreclosure:
Non judicial foreclosure is possible if a power of sale clause is
contained in the loan document.
Judicial foreclosure is used when the power of sale clause is not in
the loan documents or when the lender intends to pursue a
deficiency judgment.
Deficiency: A deficiency is not allowed on purchase money
mortgages.
Redemption: The time differs between 30 days and one year. Unless
a special short term power of sale clause is contained in the loan
document, or the property is abandoned, a borrower has one year to
redeem the property.
