Foreclosure is the procedure by which a party who has loaned money secured by a mortgage or deed of trust on real property (or has an unpaid judgment), forces the sale of the real property to recover the money due, unpaid interest, plus the costs of foreclosure, after the debtor fails to make payment.
In most cases, a wrongful foreclosure action alleges that the amount stated as due and owing in the notice of default is incorrect for one or more of the following reasons: an incorrect interest rate adjustment, incorrect tax escrow collected, misapplied payments, or a forbearance agreement which was not adhered to by the servicer, Wrongful foreclosure actions are also brought when the servicers accept partial payments after initiation of the wrongful foreclosure process, then continue with the foreclosure.
Title: Understanding South Dakota Instruction to Jury Regarding Damages for Wrongful Foreclosure Description: South Dakota Instruction to Jury Regarding Damages for Wrongful Foreclosure is an essential legal guideline provided to juries during cases involving wrongful foreclosure in the state of South Dakota. This detailed description aims to provide an overview of the purpose, elements, and different types of instructions related to these damages. Keywords: South Dakota Instruction to Jury, Damages, Wrongful Foreclosure, Legal Guideline, Purpose 1. Purpose of South Dakota Instruction to Jury Regarding Damages for Wrongful Foreclosure: The purpose of this instruction is to guide the jury in assessing the appropriate compensatory and potential punitive damages to be awarded in cases where wrongful foreclosure has occurred in South Dakota. The instruction aims to ensure fairness and consistency in the jury's decision-making process. 2. Elements Covered by South Dakota Instruction to Jury Regarding Damages for Wrongful Foreclosure: a) Establishing Wrongful Foreclosure: The instruction outlines the elements necessary to prove a wrongful foreclosure, including violation of foreclosure laws, failure to provide notice, or inaccurate documentation. b) Compensatory Damages: Guidance is provided to determine the actual financial losses suffered by the impacted party, such as loan balance, fees incurred, and emotional distress. c) Punitive Damages: Instructions explain the circumstances under which punitive damages may be awarded to deter similar misconduct by the defendant, emphasizing the need for clear and convincing evidence of intentional or reckless behavior. 3. Different Types of South Dakota Instruction to Jury Regarding Damages for Wrongful Foreclosure: a) Instruction on Calculating Compensatory Damages: This type of instruction advises the jury on calculating the precise economic and non-economic losses suffered by the plaintiff due to the wrongful foreclosure, considering factors like property value, emotional distress, and legal fees. b) Instruction on Assessing Punitive Damages: This type of instruction educates the jury on determining whether punitive damages should be awarded, how to calculate the appropriate amount based on the severity of the defendant's behavior, and the potential impact on the defendant's financial status. In conclusion, South Dakota Instruction to Jury Regarding Damages for Wrongful Foreclosure assists the jury in comprehending the legal principles involved and provides guidance on the assessment of compensatory and punitive damages. These instructions help maintain fairness and consistency in the legal process surrounding wrongful foreclosure cases.
