10-25-39. Apportionment of proceeds of sale--Disposing surplus proceeds.

The proceeds of the tax deed sale, after deducting the expenses incurred by the county in the proceeding to take tax deed and in the sale proceeding, must be distributed by prorating the proceeds on the basis of the tax levies for the most recent year for which taxes are included in the proceeds of the sale, until all tax and interest have been paid.

Any surplus proceeds of the tax deed sale that remain after payment of the taxes, penalty, interest, and other costs, must be returned to the prior owner of record. If the prior owner of record cannot be found within one hundred eighty days, the surplus must be transferred to the Unclaimed Property Division pursuant to chapter 43-41B.

Source: SL 1911, ch 246; SL 1913, ch 354; SL 1917, ch 136; RC 1919, § 6803; SL 1931, ch 113; SL 1933, ch 64; SL 1933, ch 198, § 2; SL 1937, ch 83; SDC 1939, § 57.1124; SL 2008, ch 37, § 77; SL 2018, ch 63, § 151; SL 2024, ch 38, § 3, eff. Feb. 12, 2024.



SDLRC - Codified Law 10-25-39 - Apportionment of proceeds of sale--Disposing surplus proceeds.

10-25-39.1. County acquisition of real property--Sale of property--Notice of sale required.

    A county that has acquired real property by a tax deed shall declare the real property to be surplus property and conduct a sale in accordance with the provisions of chapter 6-13. The sale must occur within one year of the issuance of the tax deed. The proceeds of the sale must be distributed in accordance with § 10-25-39. Notwithstanding the notice requirement contained in § 6-13-4, the county shall give notice of the sale by publishing a notice of the sale at least twice, with the first publication not less than thirty days prior to the date of the sale.

Source: SL 2024, ch 38, § 1, eff. Feb. 12, 2024.



SDLRC - Codified Law 10-25-39 - Apportionment of proceeds of sale--Disposing surplus proceeds.

10-25-39.2. County acquisition of real property--Public auction of property.

    Any person, except a county, acquiring real property by a tax deed after being issued a tax certificate shall offer the property at public auction in accordance with the provisions of chapter 6-13 and § 10-25-39.1. The auction must occur within one year of the issuance of the tax deed. Following the sale, the seller of the property is entitled to compensation in the same manner as redemption of a tax certificate pursuant to § 10-24-1. The proceeds of the sale must be distributed in accordance with § 10-25-39.

Source: SL 2024, ch 38, § 2, eff. Feb. 12, 2024.