South Dakota Codified Laws 43-32-1. Leasing of real property defined
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Leasing is a contract by which one (the lessor or landlord) gives to another (the lessee or tenant) temporary possession and use of real property for reward and the lessee agrees to return such property to the lessor at a future time.
Terms Used In South Dakota Codified Laws 43-32-1
- Contract: A legal written agreement that becomes binding when signed.
- Property: includes property, real and personal. 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: SDC 1939, § 38.0401.