South Dakota § 43-4-51 Disclosure of private transfer fee obligations.

South Dakota Statutes

§ 43-4-51 — Disclosure of private transfer fee obligations.

South Dakota·Title 43 PROPERTY·Ch. 43-3 TRANSFER OF PROPERTY

Private transfer fee obligations shall be disclosed as follows:

(1)For transfers of real property subject to the disclosure requirements contained in §§ 43-4-38 to 43-4-44 , inclusive, disclosure of any private transfer fee obligations shall be made using the property condition disclosure statement set forth in § 43-4-44 ;

(2)For transfers of real property not subject to the disclosure requirements contained in §§ 43-4-38 to 43-4-44 , inclusive, each seller of real property shall furnish to any purchaser a written statement disclosing the existence of any private transfer fee obligation. This written statement shall include a description of the private transfer fee obligation and include a statement that private transfer fee obligations are subject to certain prohibitions pursuant

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Private transfer fee obligations shall be disclosed as follows: (1) For transfers of real property subject to the disclosure requirements contained in §§ 43-4-38 to 43-4-44 , inclusive, disclosure of any private transfer fee obligations shall be made using the property condition disclosure statement set forth in § 43-4-44 ; (2) For transfers of real property not subject to the disclosure requirements contained in §§ 43-4-38 to 43-4-44 , inclusive, each seller of real property shall furnish to any purchaser a written statement disclosing the existence of any private transfer fee obligation. This written statement shall include a description of the private transfer fee obligation and include a statement that private transfer fee obligations are subject to certain prohibitions pursuant to §§ 43-4-46 to 43-4-57 , inclusive. The written document must contain a statement with the following language: A private transfer fee obligation has been imposed with respect to this property. A private transfer obligation may lower the value of this property. State law prohibits the creation of private transfer fee obligations pursuant to § 43-4-49 and requires certain notice procedures to be followed with respect to private transfer fee obligations pursuant to §§ 43-4-52 to 43-4-57 , inclusive.

South Dakota § 43-4-51 (Disclosure of private transfer fee obligations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.