South Dakota Codified Laws > Title 6 > Chapter 5 – Exchanges of Property and Work


§ 6-5-1	Transfers of land or property between political subdivisions permitted–Workexchanges–Agreements of governing bodies
§ 6-5-2	Gratuitous transfers of property to another political subdivision or nonprofitcorporation
§ 6-5-3	Resolution for gratuitous transfer of real property–Conveyance
§ 6-5-4	Exchange of land with private owner–Appraisal–Public notice and hearing
§ 6-5-5	Local governments permitted to lease, sell, give, or otherwise convey real andpersonal property to other units of government

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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.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
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}
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.