South Dakota Codified Laws > Title 43 > Chapter 9 – Future Estates in Real Property
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Terms Used In South Dakota Codified Laws > Title 43 > Chapter 9 - Future Estates in Real Property
- Dependent: A person dependent for support upon another.
- Grantor: The person who establishes a trust and places property into it.
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Testator: A male person who leaves a will at death.