South Dakota Codified Laws 36-21A-146. Certain information not to be disclosed by transaction broker without written consent
The following information may not be disclosed by the transaction broker without the informed written consent of the customer:
(1) That a buyer is willing to pay more than the asking price or lease rate offered for the property;
Terms Used In South Dakota Codified Laws 36-21A-146
- 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
- Statute: A law passed by a legislature.
- 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
(2) That a seller is willing to accept less than the asking price or lease rate for the property;
(3) What the motivating factors are for any customer, buying, selling, or leasing the property;
(4) That a customer will agree to financing terms other than those offered; and
(5) Any confidential information about a party to the transaction to the other party unless the disclosure is required by statute or rule or failure to disclose the information would constitute misrepresentation.
Source: SL 1998, ch 229, § 23.