S.D. Admin. R. 64:04:01:06.01

Current through Register Vol. 51, page 71, January 6, 2025

Section 64:04:01:06.01 - Certificate of value

The form for the certificate of value required by SDCL 7-9-7 and 10-13-40 is the PT-56. The form must include the following:

(1) The name, current and new mailing addresses, and phone numbers of the buyers and sellers;

(2) The legal description and, for unplatted properties, the number of acres;

(3) If the property is owner-occupied, and is the property occupied by the buyer on a certain date;

(4) If the buyer will have owner-occupied status;

(5) If the property was offered for sale to the general public, and was the property sold by the owner or an agent;

(6) If there existed a relationship between the buyer and seller, and the actual consideration exchanged;

(7) Any major item of personal property and the property's value that was included in the total purchase price and the adjusted price paid for the real estate;

(8) The terms of payment, if not paid in full at the time of sale; and

(9) The signature of one party or agent.

S.D. Admin. R. 64:04:01:06.01

17 SDR 199, effective 7/1/1991; 21 SDR 219, effective 7/1/1995; 26 SDR 18, effective 8/19/1999; 47 SDR 071, effective 12/10/2020

General Authority: SDCL 7-9-7.2, 10-6-33.13(1).

Law Implemented: SDCL 7-9-7(4), 7-9-7.2.

Note: PT-56 is available in the register of deeds office in each county.