<html> <head> <title>Rule 67:10:04:19 Full and adequate consideration for property transferred.</title> <META NAME="Keywords" Content="Administrative Rules 67:10:04:19"> <META NAME="Description" Content="Administrative Rules 67:10:04:19 Full and adequate consideration for property transferred."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>67:10:04:19.&nbsp;&nbsp;Full and adequate consideration for property transferred.</b> The department considers any item or service which the individual receives for transferred property to be for full and adequate consideration as long as the value of the item or service equals the reasonable market value of the property transferred or assigned.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If it appears that the property was transferred or assigned without full and adequate consideration, the department shall use the fair market value, determined according to §&nbsp;67:10:04:09, less encumbrances of record, to determine if the individual received the full and adequate consideration.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 24 SDR 24, effective August 31, 1997.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=28-7A-3">28-7A-3(1)(3).</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=28-7A-3">28-7A-3(1)(3).</A></p> </div> </body> </html>