Fill and Sign the Warranty Deed to Child Reserving a Life Estate in the Parents South Dakota Form

Prepared by U.S. Legal Forms, Inc. Copyright 2016 - U.S. Legal Forms, Inc. STATE OF SOUTH DAKOTA WARRANTY DEED [Parent(s) to Child(ren) with Reservation of Life Estate] Control Number – SD – 021-77 - Page 1 - NOTE ABOUT COMPLETING THE FORMS The forms in this packet contain “form fields” created using Microsoft Word. “Form fields” facilitate completion of the forms using your computer. They do not limit you ability to print the form “in blank” and complete with a typewriter or by hand. If you do not see the gray shaded form fields, go the View menu, click on Toolbars, and then select Forms. This will open the forms toolbar. Look for the button on the forms toolbar that resembles a shaded letter “a”. Click in this button and the form fields will be visible. The forms are locked which means that the content of the forms cannot be changed. You can only fill in the information in the fields. If you need to make any changes in the body of the form, it is necessary for you “unlock” or “unprotect” the form. IF YOU INTEND TO MAKE CHANGES TO THE CONTENT, DO SO BEFORE YOU BEGIN TO FILL IN THE FIELDS. IF YOU UNLOCK THE DOCUMENT AFTER YOU HAVE BEGUN TO COMPLETE THE FIELDS, WHEN YOU RELOCK, ALL INFORMATION YOU ENTERED WILL BE LOST. To unlock click on “Tools” in the Menu bar and then selecting “unprotect document”. You may then be prompted to enter a password. If so, the password is “uslf”. That is uslf in lower case letters without the quotation marks . After you make the changes relock the document before you being to complete the fields. After any required changes and re-protecting the document, click on the first form field and enter the required information. You will be able to navigate through the document from form field to form field using your tab key. Tab to a form field and insert your data. If problems, please let us know. NOTES ON FILING THE DEED 1. Deeds, Contract for Deeds, Assignment of Contracts which convey an interest in the title from one person to another and are dated after July 1, 1988 shall be accompanied by an additional document entitled “ Certificate of Real Estate Value ” which document is prescribed by the Department of Revenue. This Certificate must be fully filled out and signed and dated. These forms can be downloaded under “Property Tax” at: http://www.state.sd.us/drr2/revenue.html under “Property Tax”. 2. Transfer Fee Exemption Statutes - Transfer Fee exemption statutes must be typed on the face of a deed if the transfer is exempt. The law states that the words “Exempt from Transfer Fee Pursuant to SDCL 43-4-22(___)(applicable subdivision must be put in parenthesis)” are to be typed or printed on the face of the instrument. See the following for a full list of exemptions: - Page 2 - “43-4-22. Exemptions from real estate transfer fee. The fee imposed by § 43-4-21 does not apply to any transfer of title: (1) Recorded before July 1, 1968; (2) By or to the United States of America, this state, or any instrumentality agency, or political subdivision of either; (3) Solely in order to provide for or to release security for a debt or obligation; (4) Which confirms or corrects a deed previously executed and recorded; (5) Between husband and wife, or parent and child with only nominal actual consideration therefor; (6) On sale for delinquent taxes or assessments, sheriffs' deeds, other deeds issued in foreclosure actions or proceedings or deeds issued in lieu of foreclosure actions or proceedings; (7) On partition; (8) Pursuant to any mergers or consolidations of corporations or limited liability companies or plans of reorganization by which substantially all of the assets of corporations or limited liability companies are transferred; (9) By a subsidiary corporation to its parent corporation for no consideration, nominal consideration, or in sole consideration of the cancellation or surrender of the subsidiary's stock; (10) Pursuant to decrees of distribution entered in any decedent's estate; (11) Between an individual grantor, or grantors, and a corporation, where the grantor or grantors and the owner of the majority of the capital stock of the corporation are the same person; (12) Between any corporation and its stockholders or creditors, or between any limited liability company and its members or creditors, if to effectuate a dissolution of the corporation or limited liability company it is necessary to transfer the title of real property from the corporate entity to the stockholders or creditors; (13) On cemetery lots and grave sites; (14) Between an individual grantor, or grantors, and a limited or general partnership if the grantor or grantors and the owner of the majority interest in the limited or general partnership are the same person; (15) Between a fiduciary and a beneficiary of the fiduciary or between a fiduciary and a third party, if the transfer or conveyance is to accommodate the fiduciary relationship; (16) Between individuals, regardless of the relationship, if the conveyance is an absolute gift without consideration of any kind in return for the conveyance; (17) Pursuant to a decree of divorce, annulment, or separate maintenance or pursuant to a settlement agreement approved or adopted by a decree of divorce, annulment, or separate maintenance; (18) For which no consideration was given; (19) Between any limited liability company and its members.” - Page 3 - DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of South Dakota. All Information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem we suggest that you consult an attorney. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U. S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. - Page 4 - This document prepared by (and after recording return to): ) ) ) ) ) ) ) -------- Above This Line Reserved For Official Use Only-------------Name:       Firm/Company:       Address:       Address 2:       City, State, Zip:       Phone:       Exempt from Transfer Fee Pursuant to SDCL 43-4-22( ______ ) WARRANTY DEED (Parent(s) to Child(ren) with Reservation of Life Estate) KNOW ALL MEN BY THESE PRESENTS THAT: FOR VALUABLE CONSIDERATION OF TEN DOLLARS ($10.00), and other good and valuable consideration, cash in hand paid, the receipt and sufficiency of which is hereby acknowledged, ______________________________ and ______________________________ , Husband and Wife, hereinafter referred to as “Grantors”, do hereby grant, convey and warrant unto ______________________________ , hereinafter “Grantee”, the following lands and property, together with all improvements located thereon, lying in the County of ______________________ , State of South Dakota, to-wit: See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full Legal Description:       Prior instrument reference: Book ______ , Page ______ , Document No. ______ , of the Register of Deeds for ______________________ County, South Dakota. SUBJECT to Life Estates retained by ________________________ and ________________________ , Grantors, to run consecutively. It being the intention of the Grantors that the ending of one Life Estate shall in no way affect the remaining Life Estate. Warranty Deed Page 1 of 3 SUBJECT to all easements, rights-of-way, protective covenants and mineral reservations of record, if any. TO HAVE AND TO HOLD to the said Grantee, his/her heirs, personal representatives, executors and assigns forever. IN WITNESS WHEREOF, this deed was executed by the undersigned on this the ____ day of __________________ , 20 ___ . WITNESS Grantor(s) hand(s) this the ____ day of ________________ , 20 ____ . (1 st Grantor’s Signature) (2 nd Grantor’s Signature)             Type or Print Name Type or Print Name State of South Dakota County of __________________ On this ______ day of __________________ , 20 ______ , before me, ______________________________ , the undersigned officer, personally appeared ______________________________ , known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument and acknowledged that he/she executed the same for the purposes therein contained. In witness whereof I hereunto set my hand and official seal. Notary Public, State of       My commission expires:       Type or Print Name Warranty Deed Page 2 of 3 State of South Dakota County of __________________ On this ______ day of __________________ , 20 ______ , before me, ______________________________ , the undersigned officer, personally appeared ______________________________ , known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument and acknowledged that he/she executed the same for the purposes therein contained. In witness whereof I hereunto set my hand and official seal. Notary Public, State of       My commission expires:       Type or Print Name Grantor(s) Name, Address, phone:                                     Grantee(s) Name, Address, phone:                                     SEND TAX STATEMENTS TO GRANTEE Warranty Deed Page 3 of 3 EXHIBIT A       Warranty Deed Exhibit A