29A-6-425. Purchaser for value or lender acquiring security interest in property takes property free of claims.
A purchaser for value of property or a lender who acquires a security interest in the property from a beneficiary of a transfer on death deed after the death of the owner, in good faith, takes the property free of any claims of or liability to the owner's estate, creditors of the owner's estate, persons claiming rights as beneficiaries under the deed or heirs of the owner's estate, in absence of actual knowledge that the transfer was improper or that the information in an affidavit of confirmation, if any, provided pursuant to §29A-6-432, is not true; and, a purchaser or lender for value has no duty to verify sworn information relating to the deed.
Source: SL 2014, ch 133, §25.
Structure South Dakota Codified Laws
Title 29A - Uniform Probate Code
Chapter 06 - Non-Probate Transfers
Section 29A-6-101 - Definition of terms.
Section 29A-6-102 - Application to controversies between parties and between parties and P.O.D.
Section 29A-6-103 - Ownership of joint account, P.O.D.
Section 29A-6-104 - Rights of survivorship upon death of party to joint account, P.O.D.
Section 29A-6-106 - Effectiveness of transfers--Not considered testamentary.
Section 29A-6-108 - Financial institution as party to multiple-party accounts.
Section 29A-6-109 - Payments from joint account to party, personal representative or heirs.
Section 29A-6-111 - Financial institution discharged from claims--Exception where notice given.
Section 29A-6-112 - Right of financial institution to setoff--Amount.
Section 29A-6-113 - Provisions deemed nontestamentary--Rights of creditors not limited.
Section 29A-6-114 - Payment of P.O.D.
Section 29A-6-301 - Definitions.
Section 29A-6-302 - Registration in beneficiary form--Sale or joint tenancy ownership.
Section 29A-6-303 - Registration in beneficiary form--Applicable law.
Section 29A-6-304 - Origination of registration in beneficiary form.
Section 29A-6-305 - Form of registration in beneficiary form.
Section 29A-6-306 - Effect of registration in beneficiary form.
Section 29A-6-307 - Ownership on death of owner.
Section 29A-6-308 - Protection of registering entity.
Section 29A-6-309 - Nontestamentary transfer on death.
Section 29A-6-310 - Terms, conditions, and forms for registration.
Section 29A-6-311 - Application of part.
Section 29A-6-401 - Short title.
Section 29A-6-402 - Definitions.
Section 29A-6-403 - Transfer on death deed authorized.
Section 29A-6-404 - Nonexclusivity.
Section 29A-6-405 - Transfer on death deed revocable.
Section 29A-6-406 - Transfer on death deed nontestamentary.
Section 29A-6-407 - Capacity of transferor.
Section 29A-6-408 - Requirements.
Section 29A-6-409 - Notice, delivery, acceptance, consideration not required.
Section 29A-6-410 - Revocation by instrument authorized.
Section 29A-6-411 - Revocation by more than one transferor.
Section 29A-6-412 - Revocation by act not permitted.
Section 29A-6-413 - Effect of inter vivos transfer not limited.
Section 29A-6-414 - Effect of transfer on death deed during transferor's life.
Section 29A-6-415 - Effect of transfer on death deed at transferor's death.
Section 29A-6-417 - Effect of transfer on death deed when transferor is joint owner.
Section 29A-6-418 - Transfer on death deed transfers property without covenant or warranty of title.
Section 29A-6-419 - Disclaimer.
Section 29A-6-420 - Liability for debts and obligations of deceased transferor.
Section 29A-6-423 - Limitation of beneficiary liability.
Section 29A-6-426 - Agent may not modify beneficiary designation unless authorized.
Section 29A-6-427 - Recording of transfer of deceased owner's property--Affidavit of confirmation.
Section 29A-6-428 - Index reference in the record of deeds.
Section 29A-6-429 - Falsification of affidavit of confirmation.
Section 29A-6-430 - Optional form of transfer on death deed.
Section 29A-6-431 - Optional form of revocation.
Section 29A-6-432 - Optional form of affidavit of confirmation.
Section 29A-6-433 - Uniformity of application and construction.
Section 29A-6-434 - Relation to Electronic Signatures in Global and National Commerce Act.