Under the South Dakota Residential Seller Disclosure Act (SDCL 43-4-37 through 43-4-44), which of the following transactions is NOT exempt from the seller disclosure requirement?
Correct Answer
D) A sale of a single-family home by an owner-occupant to an unrelated third-party buyer on the open market
A standard arm's-length sale of a single-family home by an owner-occupant to an unrelated third-party buyer on the open market is the core transaction that the South Dakota Residential Seller Disclosure Act is designed to govern. This type of transaction is NOT exempt and requires full completion and delivery of the seller disclosure statement. All other answer options describe categories that qualify for statutory exemptions under SDCL 43-4-44.
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Related Topics & Key Terms
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