South Dakota Codified Laws 49-16A-43.1. Validation of defects in lease or sale made prior to January 1, 1994
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Any defect in any lease or sale of any railroad property by a railroad pursuant to the provisions of chapter 49-16A made prior to January 1, 1994, is hereby validated, legalized and cured, and as to any such sale the railroad’s instrument of conveyance shall operate to convey and transfer title to the person or persons named as grantee or grantees in such instrument of conveyance all the right, title, and interest of the railroad and in and to such property. This section does not affect any action pending on July 1, 1994.
Terms Used In South Dakota Codified Laws 49-16A-43.1
- 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
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1987, ch 346, § 2; SL 1994, ch 348, § 3.