South Dakota · ForeclosureSouth Dakota foreclosure by advertisement: publication, the 21-day notice and the right to a court foreclosure

Every South Dakota mortgage of real property containing a power of sale may, on default, be foreclosed by advertisement (SDCL 21-48-1). Notice that the mortgage will be foreclosed by sale must be published at least once a week for four successive weeks in a legal newspaper of the county where the property lies – or the nearest newspaper in the state if the county has none – naming the mortgagor, mortgagee and any assignee, the date of the mortgage, the amount claimed due and a description of the property (SDCL 21-48-6). At least twenty-one days before the sale, the foreclosing creditor must also serve a written copy of the notice on the mortgagor and on any lienholder or encumbrancer whose interest would be affected (SDCL 21-48-6.1). The sale is a public auction by the county sheriff or a deputy, between 9 a.m. and 5 p.m., to the highest bidder (SDCL 21-48-10). Once foreclosure by advertisement has started, the mortgagor, a successor, or anyone with a lien, encumbrance or recorded ownership interest may apply to the court to require the holder to foreclose by action instead (SDCL 21-48-9).