A sheriff’s deed is a deed that transfers or conveys title (ownership rights) in property purchased at a sheriff’s sale. A sheriff’s sale is typically ordered by a court after a person or entity fails to pay a court judgment against them (a judgment debtor) or when the property is the subject of a mortgage foreclosure.

Laws vary from state to state, but a debtor whose property is the subject of a mortgage foreclosure that was sold at a sheriff’s sale may have the right to redeem the property or the right to redemption of the property—paying the amount due and keeping the property—until confirmation of the sale is signed by the judge and filed by the court. This redemption period is usually defined by state statute and may be referred to as a statutory redemption period.

The lender (bank) that is foreclosing on the mortgage is often the high bidder that purchases the property at a sheriff’s sale. If another party is the high bidder at the sheriff’s sale, the lender (bank) may be able to get a deficiency judgment against the debtor (borrower or mortgagor) if the sale amount isn’t enough to pay the balance of the debt—depending on the state’s law.

In South Dakota, a sheriff's deed is a legal document that transfers ownership of a property sold at a sheriff's sale, which typically occurs after a court orders the sale due to a failure to pay a court judgment or in the case of mortgage foreclosure. South Dakota law provides a right of redemption for debtors, allowing them to reclaim their foreclosed property by paying the full amount due before the sale is confirmed by a judge. This right is exercised during the statutory redemption period, which in South Dakota is generally 180 days for properties of 40 acres or less, and one year for larger properties, starting from the date of the sale. If the property is sold at the sheriff's sale for less than the amount owed on the mortgage, the lender may seek a deficiency judgment against the debtor for the difference, unless the mortgage or deed of trust contains a 'non-recourse' provision or the lender has agreed to waive the right to a deficiency judgment.