S.D. Codified Laws § 36-21A-125

Current through the 2024 Legislative Session

Section 36-21A-125 - Adverse material fact defined

For the purposes of this chapter, an adverse material fact is information that negatively affects the value of the property or a party's ability to perform its obligations in a real estate transaction. Adverse material facts include:

(1) Any environmental hazards affecting the property which are required by law to be disclosed;

(2) Any material defects in the property;

(3) Any material defects in the title to the property which are anticipated to survive the closing; and

(4) Any material limitation on the client's ability to perform under the terms of the contract.

SDCL 36-21A-125

SL 1998, ch 229, §2.