South Dakota Codified Laws 45-7-3. Expiration or forfeiture of lease–Release of record
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When an oil, gas, or other mineral lease heretofore or hereafter given on lands situated in any county of South Dakota and recorded therein shall expire or become forfeited, it shall be the duty of the record owner of the lease, within fifteen days after the date of the forfeiture or expiration of any lease, to have such lease surrendered in writing, such surrender to be signed by the party making the same, acknowledged and placed of record in the county where the leased land is situated, without cost to the landowner or the owner of the mineral rights.
Terms Used In South Dakota Codified Laws 45-7-3
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Source: SL 1941, ch 180, § 1; SL 1943, ch 154; SDC Supp 1960, § 42.0812.