South Dakota Codified Laws 55-11-5. Cancellation of contract creating revocable trust
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The contract creating a revocable trust mentioned in § 55-11-1 may be canceled by either party thereto at any time upon thirty days’ written notice of such cancellation.
Terms Used In South Dakota Codified Laws 55-11-5
- Contract: A legal written agreement that becomes binding when signed.
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
- 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
Source: SL 1953, ch 496, § 1; SDC Supp 1960, § 27.1409; SL 1967, ch 104, § 1; SL 1975, ch 302, § 2.