§ 43-4-43 Application of disclosure statement requirements.

SD Codified L § 43-4-43 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

43-4-43. Application of disclosure statement requirements. Sections 43-4-37 to 43-4-44, inclusive, do not apply to the following transfers:

(1) Transfers pursuant to court order, including transfers ordered by probate court in the administration of an estate, transfers between spouses resulting from a judgment of dissolution of marriage or legal separation, transfer pursuant to a writ of execution, transfers by a trustee in bankruptcy, transfers by eminent domain, transfers by government agencies, and transfers resulting from a decree for specific performance;

(2) Transfers to a mortgagee by a mortgagor in default, transfers by any foreclosure sale after default in an obligation secured by a mortgage, transfers by a mortgagee or a beneficiary under a deed of trust who has acquired the real property by foreclosure or by a deed in lieu of foreclosure or transfers by a collateral assignment of beneficial interest;

(3) Transfers by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust;

(4) Transfers from one co-owner to one or more other co-owners;

(5) Transfers made to a spouse, a child, a parent, a sibling, a grandchild, or a grandparent;

(6) Transfers of newly constructed residential real property which has never been occupied.Source: SL 1993, ch 325, § 7; SL 1994, ch 337, § 5.

Previous Section

§ 43-4-42 Liability for failure to comply with disclosure statement requirements.

Next Section

§ 43-4-44 Property condition disclosure statement.