Forfeiture of property to satisfy obligation secured by lien or restraint of right of redemption void.

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  5. Forfeiture of property to satisfy obligation secured by lien or restraint of right of redemption void.

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44-1-8. Forfeiture of property to satisfy obligation secured by lien or restraint of right of redemption void.

All contracts for forfeiture of property subject to a lien in satisfaction of the obligation secured thereby and all contracts in restraint of the right of redemption from a lien are void.

Source: CivC 1877, §1707; CL 1887, §4331; RCivC 1903, §2027; RC 1919, §1532; SDC 1939, §39.0108.


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