The power of the owner of a life estate to make leases may be released by him to any person entitled to a future estate in the property and is thereupon extinguished.
Terms Used In South Dakota Codified Laws 43-11-26
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: CivC 1877, § 345; CL 1887, § 2861; RCivC 1903, § 368; RC 1919, § 435; SDC 1939, § 59.0448.