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§ 29A-6-402 Definitions.

SD Codified L § 29A-6-402 (2019) (N/A)
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29A-6-402. Definitions. Terms used in this part mean:

(1) "Beneficiary," a person who receives property under a transfer on death deed;

(2) "Designated beneficiary," a person designated to receive property in a transfer on death deed;

(3) "Joint owner," any individual who owns property concurrently with one or more other individuals with a right of survivorship. The term includes a joint tenant with a right of survivorship. The term does not include a tenant in common;

(4) "Person," an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity;

(5) "Property," an interest in real property located in this state which is transferable on the death of the owner;

(6) "Transfer on a death deed," a document authorized under this part and is considered a governing instrument as defined by subdivision 29A-1-201(19);

(7) "Transferor," any individual who makes a transfer on a death deed.Source: SL 2014, ch 133, § 2.

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§ 29A-6-401 Short title.
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§ 29A-6-403 Transfer on death deed authorized.