South Dakota Codified Laws 29A-6-416. Beneficiary takes property subject to all interests present at transferor’s death
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Subject to chapter 43-28, a beneficiary takes the property subject to all conveyances, encumbrances, assignments, contracts, mortgages, liens, and other interests to which the property is subject at the transferor’s death. For purposes of this section and chapter 43-28, the recording of the transfer on death deed is deemed to have occurred at the transferor’s death.
Terms Used In South Dakota Codified Laws 29A-6-416
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 2014, ch 133, § 16.