43-26-7. Transfer of subject matter of contract for purchase and sale of realty--Destruction without fault of vendor--Taking by eminent domain--Payment of purchase price.
If, when either the legal title or the possession of the subject matter of the contract has been transferred, all or any part thereof is destroyed without fault of the vendor or is taken by eminent domain, the purchaser is not thereby relieved from a duty to pay the price, nor is he entitled to recover any portion thereof that he has paid.
Source: SL 1937, ch 258, §1; SDC 1939 & Supp 1960, §37.1807 (2).
Structure South Dakota Codified Laws
Chapter 26 - Real Estate Sale Contracts
Section 43-26-1 - Agreement to sell real property binds seller.
Section 43-26-5 - Rights and duties of parties as to risk of loss under contract.
Section 43-26-8 - Interpretation and construction of risk of loss provisions.
Section 43-26-9 - Prepayment privilege implied in real estate contract.