South Dakota Codified Laws 29A-5-407. Inventory of minor’s or protected person’s real and personal estate
Within ninety days following an appointment, a conservator shall file with the court an inventory of the real and personal estate of the minor or protected person which has come into the conservator’s possession or knowledge. The inventory shall, with reasonable detail, list each item of the estate, its approximate fair market value and the type and amount of encumbrance to which it is subject. If any real or personal estate comes into the possession or knowledge of the conservator which was not included in the inventory, the conservator may list such property in the next accounting required to be filed with the court.
A conservator shall mail a copy of the inventory to the individuals and entities specified in § 29A-5-410 no later than fourteen days following its filing.
Terms Used In South Dakota Codified Laws 29A-5-407
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- person: refers to either an "interested person" a "person alleged to need protection" or a "protected person" as the context requires, and does not refer to a "person" as defined in §. See South Dakota Codified Laws 29A-5-102
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1993, ch 213, § 50; SL 1994, ch 233, § 4; SDCL 30-36-50; SL 1995, ch 167, § 181.