43-4-37. Definition of terms for required disclosures in certain real estate transfers.Terms used in §§43-4-38 to 43-4-44, inclusive, mean:(1)'Buyer,' a person negotiating or attempting to become an owner of residential real property by means of a transfer which is subject to §§43-4-38 to 43-4-44, inclusive;(2)'Disclosure statement,' the property condition disclosure statement as provided in §43-4-44;(3)'Residential real property,' all residential real property consisting of not more than four family dwelling units, all of which are contained in one structure;(4)'Seller,' an owner of residential real property;(5)'Transfer,' a sale, exchange, installment sale contract, lease with an option to purchase, other option to purchase, or a ground lease coupled with improvements. Source: SL 1993, ch 325, §1; SL 1994, ch 337, §1.
South Dakota Legal Code