Every interest created in favor of several persons in their own right is an interest in common, unless acquired by them in partnership, for partnership purposes, or unless declared in its creation to be a joint interest, as provided in §§ 43-2-12 to 43-2-14, inclusive.

Source: CivC 1877, § 179; CL 1887, § 2695; RCivC 1903, § 202; RC 1919, § 272; SDC 1939, § 51.0214.