§ 5-5-29 — Deposit by new lessee or purchaser to cover improvements--Election by owner to remove improvements.

South Dakota § 5-5-29

• Jurisdiction: South Dakota
• Title 5: PUBLIC PROPERTY, PURCHASES AND CONTRACTS
• Ch. 5-5: AGRICULTURAL AND GRAZING LEASES OF SCHOOL AND PUBLIC LANDS

Text

If any permitted improvement is located on any school or endowment land and the land has been offered for lease or sale and a person other than the owner of the improvement is the highest bidder, the bidder shall deposit with the county auditor a receipt showing payment of the amount due before the lease or sale is made. In addition, the highest bidder shall deposit with the county treasurer an amount equal to the appraised value of each improvement as determined by the board of appraisal or an amount agreed between the successful bidder and the owner of the improvement. The owner of the improvement may elect to remove the improvement.

Legislative History

SL 1917, ch 339, § 19; RC 1919, § 5651; SL 1923, ch 254; SDC 1939, § 15.0416; SL 1971, ch 29, § 1; SL 2018, ch 45, § 1.