64:04:01:06.01.  Certificate of value. The form for the certificate of value required by SDCL 7-9-7 and 10-13-40 is the PT-56. The form must include the following:

 

          (1)  The name, current and new mailing addresses, and phone numbers of the buyers and sellers;

          (2)  The legal description and, for unplatted properties, the number of acres;

          (3)  If the property is owner-occupied and is the property occupied by the buyer on a certain date;

          (4)  If the buyer will have owner-occupied status;

          (5)  If the property was offered for sale to the general public and whether the property was sold by the owner or an agent;

          (6)  If there existed a relationship between the buyer and seller, and the actual consideration exchanged;

          (7)  Any major item of personal property and the property's value that was included in the total purchase price and the adjusted price paid for the real estate;

          (8)  The terms of payment, if not paid in full at the time of sale; and

          (9)  The signature of one party or agent.

 

          Source: 17 SDR 199, effective July 1, 1991; 21 SDR 219, effective July 1, 1995; 26 SDR 18, effective August 19, 1999; 47 SDR 71, effective December 10, 2020.

          General Authority: SDCL 7-9-7.2, 10-6-33.13(1).

          Law Implemented: SDCL 7-9-7(4), 7-9-7.2.

 

          Note: PT-56 is available in the register of deeds office in each county.