South Dakota Administrative Rules
Title 4 - School And Public Lands
Article 4:01 - Leases
Chapter 4:01:08 - Land exchanges
Section 4:01:08:03 - Exchange agreements

(1) Legal description of the land to be exchanged and approximate equal value of such land;

(2) Identification of each party involved in the exchange and status of the party's ownership or ability to provide title to the land;

(3) Any reservations and outstanding interest;

(4) Description of the appurtenant rights proposed to be exchanged or reserved including any authorized uses such as grants, permits, easements, or leases, and any known unauthorized uses such as covenants, restrictions, title defects, or encumbrances;

(5) Appraised value of the land;

(6) Cash equalization;

(7) Time schedule by which the exchange and payment of cash equalization must be made;

(8) Assignment of responsibility for performance of required functions and for costs associated with processing the exchange;

(9) Statement as to whether costs will be negotiated pursuant to § 4:01:08:05;

(10) A grant of permission by each party to physically examine the lands offered by the other party;

(11) Statement as to the manner in which documents of conveyance shall be exchanged, should the exchange proposal be successfully completed;

(12) Presence of hazardous material;

(13) Hold harmless clause;

(14) Agreement for cleanup responsibility of hazardous material; and

(15) Conveyance of acceptable title.