CHAPTER 234

(SB 97)

Homestead, maximum value set.

         ENTITLED, An Act to  establish a maximum value for certain protected homesteads.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:

     Section  1.  That § 43-31-1 be amended to read as follows:

     43-31-1.   The homestead of every family, resident in this state, as hereinafter defined, so long as it continues to possess the character of a homestead is exempt from judicial sale, from judgment lien, and from all mesne or final process from any court, to the extent and as provided in this code, except that by statute. However, a creditor or lien holder of a mobile home classified as a homestead under § 43-31-2 prior to January 1, 1973 shall , may not be cut off or and is not subject to a homestead exemption. In addition, the a homestead with a value of less than one hundred seventy thousand dollars of a person seventy years of age or older , and the unremarried surviving spouse of such person, is exempt from sale for taxes for so long as it continues to possess the character of a homestead , is exempt from sale for taxes .

     Signed March 2, 2005

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