Section 43-26-7 - Transfer of subject matter of contract for purchase and sale of realty--Destruction without fault of vendor--Taking by eminent domain--Payment of purchase price

43-26-7. Transfer of subject matter of contract for purchase and sale of realty--Destruction without fault of vendor--Taking by eminent domain--Payment of purchase price.If, when either the legal title or the possession of the subject matter of the contract has been transferred, all or any part thereof is destroyed without fault of the vendor or is taken by eminent domain, the purchaser is not thereby relieved from a duty to pay the price, nor is he entitled to recover any portion thereof that he has paid. Source: SL 1937, ch 258, §1; SDC 1939 & Supp 1960, §37.1807 (2).