<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 43-4-52 - Notices of private transfer fee obligation to be recorded for obligations imposed before July 1, 2011--Contents. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2065020Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2065020SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2065020CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2065020Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2065020DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2065020Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2065020000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2065020SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2065020SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2065020Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=43-4-52"><span class="s2065020SENU">43-4-52</span></a><span xml:space="preserve" class="s2065020SENU">. </span><span class="s2065020CL">Notices of private transfer fee obligation to be recorded for obligations imposed before July 1, 2011--Contents.</span></p><p dir="ltr" class="s2065020Normal-000000"><span class="s2065020DefaultParagraphFont">For any private transfer fee obligation imposed prior to July 1, 2011, the receiver of the fee shall, prior to December 31, 2011, record in the office of the register of deeds in the county in which the real property subject to the private transfer fee is located, a separate document that meets all of the following requirements:</span></p><p dir="ltr" class="s2065020Normal-000001"><span class="s2065020DefaultParagraphFont">(1)    The title of the document shall be Notice of Private Transfer Fee Obligation in at least fourteen point boldface type;</span></p><p dir="ltr" class="s2065020Normal-000001"><span class="s2065020DefaultParagraphFont">(2)    The amount, if the fee is a flat amount, or the percentage of the sales price constituting the cost of the transfer fee, or such other basis by which the transfer fee is to be calculated;</span></p><p dir="ltr" class="s2065020Normal-000001"><span class="s2065020DefaultParagraphFont">(3)    If the real property is residential property, actual dollar-cost examples of the transfer fee for a home priced at one hundred thousand dollars, two hundred fifty thousand dollars, and five hundred thousand dollars;</span></p><p dir="ltr" class="s2065020Normal-000001"><span class="s2065020DefaultParagraphFont">(4)    The date or circumstances under which the private transfer fee obligation expires, if any;</span></p><p dir="ltr" class="s2065020Normal-000001"><span class="s2065020DefaultParagraphFont">(5)    The purpose for which the funds from the private transfer fee obligation will be used;</span></p><p dir="ltr" class="s2065020Normal-000001"><span class="s2065020DefaultParagraphFont">(6)    The name of the person to which funds are to be paid and specific contact information regarding where the funds are to be sent;</span></p><p dir="ltr" class="s2065020Normal-000001"><span class="s2065020DefaultParagraphFont">(7)    The acknowledged signature of the payee; and</span></p><p dir="ltr" class="s2065020Normal-000001"><span class="s2065020DefaultParagraphFont">(8)    The legal description of the real property burdened by the private transfer fee obligation.</span></p><p dir="ltr" class="s2065020Normal"><span xml:space="preserve" class="s2065020000002"> </span></p><p dir="ltr" class="s2065020Normal"><span class="s2065020SCL">Source:</span><span xml:space="preserve" class="s2065020SCL-000003"> SL 2011, ch 196, § 7.</span></p></div></body></html>