58-27-71. Disposal of real estate acquired in satisfaction of debt, as part payment of consideration on sale of real estate, as gift or devise, or through merger, consolidation, or bulk reinsurance--Time limit.
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/sd/title-58/chapter-58-27/58-27-71·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as stated in § 58-27-72 , the insurer shall dispose of real estate acquired under subdivisions 58-27-50(2), (3), and
(4)within five years after the date of acquisition. The insurer may agree to sell such real estate by contract for deed upon the best terms obtainable.