South Dakota Codified Laws 43-30-12. Exceptions to application of chapter
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This chapter shall not be applied to bar the rights of any lessor or his successor as reversionary of his right to possession on the expiration of any lease by reason of failure to file the notice herein required, the rights of any remainderman upon the expiration of any life estate or trust created within twenty–three years prior to the date of an affidavit made and recorded as prescribed by § 43-30-7, right founded upon any mortgage, trust deed, or contract for sale of lands which is not barred by the statute of limitation, or conditions subsequent in any deed.
Terms Used In South Dakota Codified Laws 43-30-12
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
- Statute: A law passed by a legislature.
Source: SL 1947, ch 233, § 10; SL 1951, ch 256, § 10; SL 1957, ch 266, § 5; SDC Supp 1960, § 51.16B10.