South Dakota Codified Laws 43-46-1. Joint owners’ liability for debts and obligations of deceased joint owner
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Upon the death of either, or any, of the joint owners of real or personal property in joint tenancy, with right of survivorship, the surviving joint owner or owners shall be liable for the debts and obligations of the deceased joint owner, or owners, under the conditions set forth in this chapter.
Terms Used In South Dakota Codified Laws 43-46-1
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
Source: SL 1969, ch 198; SDCL 30-21A-1; SL 1995, ch 167, § 167.