Any person holding real estate or any interest therein under a conveyance in the terms of § 43-25-11 shall be deemed a purchaser in good faith and for a valuable consideration, unless such person at the time of the execution and delivery of such conveyance shall have had actual notice or knowledge of a prior unrecorded conveyance affecting the title to such real property.

Source: SL 1909, ch 179 , § 2; RC 1919, § 550; SDC 1939, § 51.1416.