Certificate of value.
Effective Dec 10, 202047 SDR 71Source: 17 SDR 199, effective July 1, 1991; 21 SDR 219, effective July 1, 1995; 26 SDR 18, effective August 19, 1999 ; 47 SDR 71, effective December 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.
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 whether the property was 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.
Note: PT-56 is available in the register of deeds office in each county.
Source: 17 SDR 199, effective July 1, 1991; 21 SDR 219, effective July 1, 1995; 26 SDR 18, effective August 19, 1999 ; 47 SDR 71, effective December 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.
Prior versions effective: 1999-08-19.