Ownership requirement criteria
for classifying dwellings as owner-occupied property.
ENTITLED, An Act to provide certain criteria for meeting the ownership requirements for classifying dwellings as owner-occupied property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 10-13 be amended by adding a NEW SECTION to read:
For the purposes of §§ 10-13-39 and 10-13-40, an owner shall be the owner of the owner-occupied dwelling as recorded by the director of equalization in the county where the dwelling is located. A joint tenant, an owner of a life estate, a partner, a person owning an interest in a limited liability company, a person owning an interest in a corporation, a vendee of a contract for deed, or a beneficiary of a trust is considered to be an owner.
An owner may claim a credit only on the single-family dwelling used as a principal residence. An owner may have more than one parcel of land classified as owner-occupied if the additional parcel is contiguous to the parcel containing the owner-occupied house. Each parcel that is contiguous, under the same ownership and used as one property shall be considered as owner-occupied. A property is also considered contiguous if separated by a street or alley from the parcel containing the owner-occupied house.
If the dwelling is occupied by a parent of the owner, the parent is considered the owner and occupant of the single-family dwelling.
The owner or a legal representative of the owner may sign for signature purposes on the certification of an owner-occupied dwelling.
Section 2. That ARSD 64:04:01:13.03 be repealed.
Signed March 2, 2017