South Dakota § 55-17-13 Bona fide purchaser defined.

South Dakota Statutes

§ 55-17-13 — Bona fide purchaser defined.

South Dakota § 55-17-13

Title 55FIDUCIARIES AND TRUSTS

Ch. 55-17SPECIAL SPOUSAL TRUSTS

This text of South Dakota § 55-17-13 (Bona fide purchaser defined.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 55-17-13 (2026).

Text

For purposes of § 55-17-12 , the term, bona fide purchaser, means a purchaser of property for value who has not knowingly been a party to fraud or illegality affecting the interest of the spouses or other parties to the transaction, does not have notice of an adverse claim by a spouse, and has acted in the transaction in good faith. For purposes of this section, the term, purchaser, means a person who acquires property by sale, lease, discount, negotiation, mortgage, pledge, or lien, or otherwise deals with property in a voluntary transaction other than making a gift. A purchaser gives value for property if the property is acquired:

(1)In return for a binding commitment to extend credit;

(2)As security for or in total or partial satisfaction of a preexisting claim;

(3)By accept

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For purposes of § 55-17-12 , the term, bona fide purchaser, means a purchaser of property for value who has not knowingly been a party to fraud or illegality affecting the interest of the spouses or other parties to the transaction, does not have notice of an adverse claim by a spouse, and has acted in the transaction in good faith. For purposes of this section, the term, purchaser, means a person who acquires property by sale, lease, discount, negotiation, mortgage, pledge, or lien, or otherwise deals with property in a voluntary transaction other than making a gift. A purchaser gives value for property if the property is acquired: (1) In return for a binding commitment to extend credit; (2) As security for or in total or partial satisfaction of a preexisting claim; (3) By accepting delivery under a preexisting contract for purchase; or (4) In return for other consideration sufficient to support a contract.