43-26-1      Agreement to sell real property binds seller.
43-26-2      Agreement by seller of real property to give usual covenants--Delivery and form of warranty deed.
43-26-3      Substance of usual covenants under agreement to sell real property where standard form of deed not delivered.
43-26-4      Agreement of joint tenants to sell real property--Joint tenancy interest not destroyed--Exception.
43-26-5      Rights and duties of parties as to risk of loss under contract.
43-26-6      Subject matter of contract for purchase and sale of realty not transferred--Destruction without fault of purchaser--Taking by eminent domain--Contract unenforceable--Recovery 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.
43-26-8      Interpretation and construction of risk of loss provisions.
43-26-9      Prepayment privilege implied in real estate contract.

43-26-1. Agreement to sell real property binds seller.

An agreement to sell real property binds the seller to execute a conveyance in form sufficient to pass the title to the property.

Source: CivC 1877, § 988; CL 1887, § 3612; RCivC 1903, § 1306; RC 1919, § 927; SDC 1939, § 51.1418.

43-26-2. Agreement by seller of real property to give usual covenants--Delivery and form of warranty deed.

An agreement on the part of a seller of real property to give the usual covenants, binds him to deliver a warranty deed in the form prescribed by 43-25-5 or to insert in the grant covenants of seizin, quiet enjoyment, further assurance, general warranty, and against encumbrances.

Source: CivC 1877, § 989; CL 1887, § 3613; RCivC 1903, § 1307; RC 1919, § 928; SDC 1939, § 51.1419.

43-26-3. Substance of usual covenants under agreement to sell real property where standard form of deed not delivered.

If a standard form of warranty deed be not delivered, the covenants mentioned in § 43-26-2 must be in substance as follows:

The party of the first part covenants with the party of the second part that the former is now seized in fee simple of the property granted; that the latter shall enjoy the same without any lawful disturbance; that the same is free from all encumbrances; that the party of the first part, and all persons acquiring any interest in the same through or for him, will, on demand, execute and deliver to the party of the second part, at the expense of the latter, any further assurance of the same that may be reasonably required; and that the party of the first part will warrant to the party of the second part all the said property against every person lawfully claiming the same.

Source: CivC 1877, § 990; CL 1887, § 3614; RCivC 1903, § 1308; RC 1919, § 929; SDC 1939, § 51.1420.

43-26-4. Agreement of joint tenants to sell real property--Joint tenancy interest not destroyed--Exception.

Where the incident of survivorship exists in the title to real estate the subsequent execution of a contract for sale by all of the joint tenants shall not destroy the incident of survivorship unless expressly provided.

The provisions of this section shall also be applicable to agreements heretofore executed.

Source: SL 1966, ch 154; SL 1969, ch 196.

43-26-5. Rights and duties of parties as to risk of loss under contract.

Any contract made after June 30, 1937 in this state for the purchase and sale of realty shall be interpreted as including an agreement that the parties shall have the rights and duties set forth in §§ 43-26-6 and 43-26-7, unless the contract expressly provides otherwise.

Source: SL 1937, ch 258, § 1; SDC 1939 & Supp 1960, § 37.1807.

43-26-6. Subject matter of contract for purchase and sale of realty not transferred--Destruction without fault of purchaser--Taking by eminent domain--Contract unenforceable--Recovery of purchase price.

If, when neither the legal title nor the possession of the subject matter of the contract has been transferred, all or a material part thereof is destroyed without fault of the purchaser or is taken by eminent domain, the vendor cannot enforce the contract, and the purchaser is entitled to recover any portion of the price that he has paid.

Source: SL 1937, ch 258, § 1; SDC 1939 & Supp 1960, § 37.1807 (1).

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).

43-26-8. Interpretation and construction of risk of loss provisions.

Sections 43-26-5 to 43-26-7, inclusive, shall be so interpreted and construed as to effectuate their general purpose to make uniform the law of those states which enact them.

Source: SL 1937, ch 258, §§ 2, 3; SDC 1939 & Supp 1960, § 37.1807; SL 1983, ch 13, § 15.

43-26-9. Prepayment privilege implied in real estate contract.

Any contract made in this state for the purchase and sale of realty shall be interpreted as including an agreement that the vendee shall have the right to tender, and the vendor shall have the duty to accept, prepayment of the balance of the contract price with accrued interest at any time without penalty to the vendee, unless the contract expressly provides otherwise.

Source: SL 1973, ch 275.