South Dakota § 36-21A-125 Adverse material fact defined.

South Dakota Statutes

§ 36-21A-125 — Adverse material fact defined.

South Dakota·Title 36 PROFESSIONS AND OCCUPATIONS·Ch. 36-21 REAL ESTATE LICENSING

For the purposes of this chapter, an adverse material fact is information that negatively affects the value of the property or a party's ability to perform its obligations in a real estate transaction. Adverse material facts include:

(1)Any environmental hazards affecting the property which are required by law to be disclosed;

(2)Any material defects in the property;

(3)Any material defects in the title to the property which are anticipated to survive the closing; and (4) Any material limitation on the client's ability to perform under the terms of the contract.

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For the purposes of this chapter, an adverse material fact is information that negatively affects the value of the property or a party's ability to perform its obligations in a real estate transaction. Adverse material facts include: (1) Any environmental hazards affecting the property which are required by law to be disclosed; (2) Any material defects in the property; (3) Any material defects in the title to the property which are anticipated to survive the closing; and (4) Any material limitation on the client's ability to perform under the terms of the contract.

South Dakota § 36-21A-125 (Adverse material fact defined.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.