43-15A-1. Definition of terms.
Terms as used in this chapter mean:
(1)"Commission," the South Dakota Real Estate Commission;
(2)"Co-owner," any person, firm, corporation, limited liability company, partnership, association, trust, or legal entity, or any combination thereof who owns a condominium within the project;
(3)"Council of co-owners," all co-owners of the condominium;
(4)"Master deed" or "master lease," the deed or lease recording the property of the condominium;
(5)"Project," the entire parcel of real property divided or to be divided into condominiums, including all structures on the property;
(6)"Property," land whether leasehold or fee simple and the buildings or building, all improvements and structures on the land and all easements, rights and appurtenances belonging to the land;
(7)"To record," to record pursuant to the laws of this state relating to the recordation of deeds.
Source: SL 1975, ch 270, §1; SL 1986, ch 302, §79; SL 1994, ch 351, §101.
Structure South Dakota Codified Laws
Section 43-15A-1 - Definition of terms.
Section 43-15A-2 - Estates subject to chapter.
Section 43-15A-3 - Establishment of condominium project--Master deed or lease.
Section 43-15A-4 - Particulars required in master deed or lease.
Section 43-15A-5 - Common areas defined.
Section 43-15A-6 - Joint or common ownership.
Section 43-15A-7 - Exclusive and common rights of owners.
Section 43-15A-8 - Recording of transfers and encumbrances of individual units.
Section 43-15A-9 - Recording of master deeds and leases--Tax inapplicable to original recordation.
Section 43-15A-11 - Fee to accompany notice of intent--Questionnaire--Form and content.
Section 43-15A-12 - Inspection of condominium project.
Section 43-15A-13 - Waiver of initial inspection.
Section 43-15A-15 - Deposit and expenditure of fees.
Section 43-15A-16 - Public report of examination findings--Status of report.
Section 43-15A-20 - True copies to be exact reproductions of commission's reports.
Section 43-15A-21 - Receipts kept by developer--Inspection--Duration.
Section 43-15A-22 - Material change in offering prohibited without written notice.
Section 43-15A-23 - Deposits held in escrow until delivery of deed.
Section 43-15A-25 - False statement, fraud, or violation of provisions as misdemeanor.
Section 43-15A-30 - Promulgation of rules to administer and enforce chapter.