No person, except as provided in this chapter, obtaining or acquiring possession of a motor vehicle, trailer, or semitrailer acquires any right, title, claim, or interest in or to the motor vehicle, trailer, or semitrailer, until he has been issued a certificate of title to the motor vehicle, trailer, or semitrailer or has received a manufacturer's statement of origin or a manufacturer's certificate of origin for the same. No waiver or estoppel may be operated in favor of such person against a person having possession of the certificate of title or a manufacturer's statement of origin or a manufacturer's certificate of origin for such motor vehicle, trailer, or semitrailer.
SDCL 32-3-10