South Dakota Codified Laws 43-15A-19. Copy of reports issued to prospective purchaser before binding contract for sale–Timeto read copy–Receipt
Current as of: 2023 | Check for updates
|
Other versions
No developer may enter into a binding contract or agreement for the sale of any unit in a condominium project until a true copy of the Real Estate Commission’s final or substitute public report thereon with all supplementary public reports, if any, has been issued and given to the prospective purchaser who has been given no less than ten days to read same, and, his receipt taken therefor.
Terms Used In South Dakota Codified Laws 43-15A-19
- Condominium: as used in this chapter , unless the context otherwise requires, shall mean an estate in real property consisting of an undivided interest in portions of a parcel of real property together with a separate interest in space in a residential, industrial, or commercial building or industrial and commercial building on such real property, such as, but not restricted to, an apartment, office, or store. See South Dakota Codified Laws 43-15A-2
- Contract: A legal written agreement that becomes binding when signed.
Source: SL 1975, ch 270, § 14; SL 1986, ch 302, § 88.