Sale or conversion of property subject to lien--Satisfaction of claim--Lien extinguished.

  1. Law
  2. South Dakota Codified Laws
  3. Liens
  4. Extinguishment Of Liens
  5. Sale or conversion of property subject to lien--Satisfaction of claim--Lien extinguished.

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44-5-3. Sale or conversion of property subject to lien--Satisfaction of claim--Lien extinguished.

The sale of any property on which there is a lien toward satisfaction of the claim secured thereby, and in case of personal property, its wrongful conversion by the person holding the lien, extinguishes the lien thereon.

Source: CivC 1877, §1718; CL 1887, §4342; RCivC 1903, §2038; RC 1919, §1543; SDC 1939, §39.0120.


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