Title 44 — LIENS

Source: CivC 1877, § 1710; CL 1887, § 4334; RCivC 1903, § 2030; RC 1919, § 1535; SDC 1939, § 39.0111.

A lien is a charge imposed upon specific property by which it is made security for the performance of an act. Source: CivC 1877, § 1697; CL 1887, § 4321; RCivC 1903, § 2017; RC 1919, § 1522; SDC 1939, § 39.0102.

The existence of a lien on property does not of itself entitle the person in whose favor it exists to a lien upon the same property for the performance of any other obligation than that which the lien originally secured. Source: CivC 1877, § 1709; CL 1887, § 4333; RCivC 1903, § 2…

One who holds property by virtue of a lien thereon is not entitled to compensation from the owner thereof for any trouble or expense which he incurs respecting it, except to the same extent as a borrower under §§ 43-37-11 and

Any mortgagor or grantor of a security interest or other lien of personal property who, while the lien of his mortgage, conditional sales agreement, or security agreement remains in force and unsatisfied, willfully destroys, conceals, sells, or in any manner disposes of or materi…

A lien document containing a written provision securing the repayment of future advances, whether or not the lien creditor is obligated to make such future advances, has priority over all subsequent encumbrancers to the extent of all sums advanced, with interest thereon, with the…

Liens are general or special. A general lien is one which the holder thereof is entitled to enforce as security for the performance of all the obligations or all of a particular class of obligations which exist in his favor against the owner of the property. A special lien is one…

The general statutes relating to liens apply to all liens including mortgages and pledges unless from the context relating to any of them a different intention plainly appears. Source: CivC 1877, § 1701; CL 1887, § 4325; RCivC 1903, § 2021; RC 1919, § 1526; SDC 1939, § 39.0101.

A lien is created: (1) By contract; or (2) By operation of law; but no lien arises by mere operation of law until the time at which the act to be secured thereby ought to be performed. Source: CivC 1877, §§ 1702, 1703; CL 1887, §§ 4326, 4327; RCivC 1903, §§ 2022, 2023; RC 1919, §…

A lien may be created by contract, to take immediate effect, as security for performance of obligations not then in existence. Source: CivC 1877, § 1705; CL 1887, § 4329; RCivC 1903, § 2025; RC 1919, § 1530; SDC 1939, § 39.0104.

An agreement may be made to create a lien upon property not yet acquired by the party agreeing to give the lien, or not yet in existence. In such case the lien agreed for attaches from the time when the party agreeing to give it acquires an interest in the property and to the ext…

No title to the property is transferred by a lien or contract for lien notwithstanding any agreement to the contrary. Source: CivC 1877, § 1706; CL 1887, § 4330; RCivC 1903, § 2026; RC 1919, § 1531; SDC 1939, § 39.0107.

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, …

The creation of a lien does not of itself imply that any person is bound to perform the act for which the lien is security. Source: CivC 1877, § 1708; CL 1887, § 4332; RCivC 1903, § 2028; RC 1919, § 1533; SDC 1939, § 39.0109.