South Dakota § 55-17-12 Bona fide purchasers.

South Dakota Statutes

§ 55-17-12 — Bona fide purchasers.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-17 SPECIAL SPOUSAL TRUSTS

Notwithstanding anything contained in § 55-17-9 to the contrary:

(1)Notice of the existence of a South Dakota special spousal property trust, a marriage, or the termination of a marriage does not affect the status of a purchaser as a bona fide purchaser;

(2)Special spousal property purchased by a bona fide purchaser from a spouse having the right to manage and control the property is acquired free of any claim of the other spouse. The effect of this subsection may not be varied by a South Dakota special spousal property trust.

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Notwithstanding anything contained in § 55-17-9 to the contrary: (1) Notice of the existence of a South Dakota special spousal property trust, a marriage, or the termination of a marriage does not affect the status of a purchaser as a bona fide purchaser; (2) Special spousal property purchased by a bona fide purchaser from a spouse having the right to manage and control the property is acquired free of any claim of the other spouse. The effect of this subsection may not be varied by a South Dakota special spousal property trust.

South Dakota § 55-17-12 (Bona fide purchasers.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.