South Dakota Codified Laws 43-4-20. Definition of terms
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Terms used in §§ 43-4-20 to 43-4-26, inclusive, mean:
(1) “Consideration,” any type of property or thing of legal value, whether delivered in the past, present, or to be delivered in the future. The term includes like-kind exchanges of property;
Terms Used In South Dakota Codified Laws 43-4-20
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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.
(2) “Deed,” any instrument for the purpose of transferring or conveying the fee title to real property;
(3) “Register,” the register of deeds of any county in the State of South Dakota; and
(4) “Value,” in the case of any deed not a gift, the amount of the full consideration therefor paid, or to be paid.
Source: SL 1968, ch 27, § 1; SL 1987, ch 314; SL 2007, ch 248, § 1.