South Dakota Codified Laws 44-8-32. Execution and acknowledgment of certificate of release–Appointment of agent
A certificate of release authorized by § 44-8-30 shall be executed and acknowledged as required by law in the case of a deed pursuant to § 43-25-5 and may be executed by a duly appointed agent of a title insurance company, but such delegation to an agent by a title insurance company does not relieve the title insurance company of any liability for damages caused by its agent for the wrongful or erroneous execution of a certificate of release. The appointment of agent shall be executed and acknowledged as required by law in the case of a deed pursuant to § 43-25-5 and shall state:
(1) Title insurance company as the grantor;
Terms Used In South Dakota Codified Laws 44-8-32
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Grantor: The person who establishes a trust and places property into it.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
(2) The identity of the person, partnership, or corporation authorized to act as agent to execute and record certificates of release provided for in §§ 44-8-30 to 44-8-35, inclusive, on behalf of the title insurance company;
(3) That the agent has the full authority to execute and record certificates of release provided for in §§ 44-8-30 to 44-8-35, inclusive, on behalf of the title insurance company;
(4) The term of appointment of the agent; and
(5) That the agent has consented to and accepts the terms of the appointment.
A single appointment of agent may be recorded in each county in the register of deed’s office. A separate appointment of agent is not necessary for each certificate of release. The appointment of agent shall be shown on each certificate of release. The appointment of agent may be rerecorded if necessary to establish authority of the agent, but such authority continues until a revocation of appointment is recorded in the office of the county register of deeds where the appointment of agent was recorded.
Source: SL 1997, ch 251, § 4.