43-15A-1. Definition of terms.
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/sd/title-43/chapter-43-15/43-15a-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Terms as used in this chapter mean:
(1)"Commission," the South Dakota Real Estate Commission;
(2)"Co - owner," any person, firm, corporation, limited liability company, partnership, association, trust, or legal entity, or any combination thereof who owns a condominium within the project;
(3)"Council of co - owners," all co - owners of the condominium;
(4)"Master deed" or "master lease," the deed or lease recording the property of the condominium;
(5)"Project," the entire parcel of real property divided or to be divided into condominiums, including all structures on the property;
(6)"Property," land whether leasehold or fee simple and the buildings or building, all improvements and structures on the land and all easements, rights and appurtenances belonging to the land;
(7)"To record," to record pursuant to the laws of this state relating to the recordation of deeds.