South Dakota Deed (Including Acceptance of Community Property with Right of Survivorship)
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FAQ
If there is no will, the probate court appoints a personal representative who must distribute the property as South Dakota law directs. The representative has a duty to the estate and the heirs of the deceased, as well as to the court, to represent the estate properly and legally.
If you die intestate in South Dakota without a spouse but you have children, then your estate goes to your children in equal shares. If you don't have children, then your entire estate goes to your parents, if they are living. If you don't have surviving parents, then your siblings inherit everything.
A transfer on death (TOD) deed is like a regular deed you might use to transfer your South Dakota real estate, but with a crucial difference: It doesn't take effect until your death.
Under a joint tenancy with the right of survivorship, each owner effectively owns the whole asset. In other words, each owner shares ownership equally. If one owner dies, the other owner acquires the deceased owner's interest automatically.
This would include actual ?deeds? such as warranty deed, quit claim deed, grantor's deed, sheriff's deed, trustee's deed, executor's deed, administrator's deed, mineral deed and similar deeds.
Because of the Real Property Transfer on Death Act (?the Act?), South Dakotans can also pass their real estate onto beneficiaries, without the real estate going through the probate process.
A South Dakota deed must include the current owner's original signature. The owner's signature should be dated. A deed transferring real estate owned by two or more owners must include all co-owners' signatures?unless only one owner is transferring an interest.
You may be able to avoid probate in South Dakota using any of the following strategies: Establish a Revocable Living Trust. Title property in Joint Tenancy. Create assets/accounts that are TOD or POD (Transfer on Death; Payable on Death)