South Dakota Codified Laws 43-25-32. Reservation of power to revoke or modify instrument affecting estate in realproperty–Subsequent grant revokes original instrument
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Where a power to revoke or modify an instrument affecting the title to, or the enjoyment of an estate in real property, is reserved to the grantor, or given to any other person, a subsequent grant of or charge upon the estate, by the person having the power of revocation, in favor of a purchaser or encumbrancer, for value, operates as a revocation of the original instrument, to the extent of the power, in favor of such purchaser or encumbrancer.
Terms Used In South Dakota Codified Laws 43-25-32
- Grantor: The person who establishes a trust and places property into it.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: CivC 1877, § 678; CL 1887, § 3300; RCivC 1903, § 993; RC 1919, § 599; SDC 1939, § 51.1407.