Summary of South Dakota's Foreclosure Laws

If you are facing foreclosure in South Dakota, it’s important to understand some of the basics, including:

the most common type of foreclosure procedure (judicial v. nonjudicial) used in South Dakota
how much time you have to respond
your rights and protections in the process, and
what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).

Below we have outlined some of the most important features of South Dakota foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.

Topic	State Rule
Most common type of foreclosure process	Nonjudicial under power of sale in deed of trust, but homeowner may choose judicial foreclosure
Time to respond	Before foreclosure, foreclosing party must publish notice once a week for four weeks and must serve homeowner with written notice (including statement telling homeowner of the right to insist on judicial foreclosure) 21 days before sale.
Reinstatement of loan before sale	Judicial: Available until court enters foreclosure judgment. S.D. Cod. Laws Ann. § 21-47-8 Nonjudicial: Not available
Redemption after sale	Judicial: Available for one year after the sale unless mortgage contains language identifying it as a short-term redemption mortgage, which provides a six-month redemption period. S.D. Cod. Laws Ann. § 21-52-11 Nonjudicial: Not available
Special protections for foreclosures involving high-cost mortgages	None
Special state protections for service members	S.D. Cod. Laws Ann. § 33-17-15.1
Deficiency judgments	Allowed, but if mortgage holder buys property at foreclosure sale, amount of deficiency is limited to difference between house’s actual market value at time of sale and amount owed on mortgage.
Cash exempted in bankruptcy	$5,000 for one person, $7,000 for a married couple
Notice to leave after house is sold	Judicial: Judge may order possession given to buyer after redemption period expires. After redemption period ends, new owner must give former owner a three-day notice to quit (leave) and then file an eviction (forcible entry and detainer) lawsuit. Nonjudicial: No special provisions for evictions following nonjudicial foreclosure but probably the same as for evictions following a judicial foreclosure.
Foreclosure statutes	S.D. Cod. Laws Ann. §§ 21-48-1 to 21-48-26

Summary of South Dakota's Foreclosure Laws

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