Finance
In South Dakota, a deed of trust differs from a mortgage in that:
AA deed of trust is used only for commercial properties
BA deed of trust involves three parties and allows non-judicial foreclosure✓ Correct
CA mortgage involves three parties and allows faster foreclosure
DDeeds of trust are not recognized in South Dakota
Explanation
A deed of trust involves three parties: the borrower (trustor), the lender (beneficiary), and a neutral trustee. If the borrower defaults, South Dakota allows non-judicial foreclosure (trustee's sale) under the deed of trust, which is typically faster than the judicial foreclosure process required for mortgages.
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