§ 43-15A-1 Definition of terms
§ 43-15A-2 Estates subject to chapter
§ 43-15A-3 Establishment of condominium project–Master deed or lease
§ 43-15A-4 Particulars required in master deed or lease
§ 43-15A-5 Common areas defined
§ 43-15A-6 Joint or common ownership
§ 43-15A-7 Exclusive and common rights of owners
§ 43-15A-8 Recording of transfers and encumbrances of individual units
§ 43-15A-9 Recording of master deeds and leases–Tax inapplicable to original recordation
§ 43-15A-10 Notice of intent to sell domestic condominium–Contract voidable if notice not given
§ 43-15A-11 Fee to accompany notice of intent–Questionnaire–Form and content
§ 43-15A-12 Inspection of condominium project
§ 43-15A-13 Waiver of initial inspection
§ 43-15A-14 Filing fee and inspection expenses to accompany notice of intent–Payment to inspector
§ 43-15A-15 Deposit and expenditure of fees
§ 43-15A-16 Public report of examination findings–Status of report
§ 43-15A-17 Commission report required before offer to sell or taking reservations to purchase
§ 43-15A-18 Supplementary report on investigations made after final or substitute report issued–Truecopy to purchasers
§ 43-15A-19 Copy of reports issued to prospective purchaser before binding contract for sale–Timeto read copy–Receipt
§ 43-15A-20 True copies to be exact reproductions of commission’s reports
§ 43-15A-21 Receipts kept by developer–Inspection–Duration
§ 43-15A-22 Material change in offering prohibited without written notice
§ 43-15A-23 Deposits held in escrow until delivery of deed
§ 43-15A-24 Management or recreation facility contract period limited–Subsequent contracts by councilof co-owners
§ 43-15A-25 False statement, fraud, or violation of provisions as misdemeanor
§ 43-15A-26 Investigation of developer suspected of violations–Examination of books–Developers tokeep records available
§ 43-15A-28 Validation of previously established vertical and horizontal property regimes andcondominiums–Deadline for enforcing rights–Notice of pendency
§ 43-15A-29 Lien for erection, repair, or improvement of a single development–Apportionment of liens
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Terms Used In South Dakota Codified Laws > Title 43 > Chapter 15A - Condominiums

  • Common areas: as used in this chapter , unless the context otherwise requires and unless otherwise provided in the master deed or lease, includes:

    (1) The land whether fee simple or leased, on which the building or buildings stand. See South Dakota Codified Laws 43-15A-5

  • Condominium: as used in this chapter , unless the context otherwise requires, shall mean an estate in real property consisting of an undivided interest in portions of a parcel of real property together with a separate interest in space in a residential, industrial, or commercial building or industrial and commercial building on such real property, such as, but not restricted to, an apartment, office, or store. See South Dakota Codified Laws 43-15A-2
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • 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
  • 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.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2