S.D. Admin. R. 67:10:04:19
Current through Register Vol. 51, page 39, September 16, 2024
The department considers any item or service which the individual receives for transferred property to be for full and adequate consideration as long as the value of the item or service equals the reasonable market value of the property transferred or assigned.
If it appears that the property was transferred or assigned without full and adequate consideration, the department shall use the fair market value, determined according to § 67:10:04:09, less encumbrances of record, to determine if the individual received the full and adequate consideration.
S.D. Admin. R. 67:10:04:19
General Authority: SDCL 28-7A-3(1)(3).
Law Implemented: SDCL 28-7A-3(1)(3).