Section 44-1-8 - Forfeiture of property to satisfy obligation secured by lien or restraint of right of redemption void

44-1-8. Forfeiture of property to satisfy obligation secured by lien or restraint of right of redemption void.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, §39.0108.