South Dakota Administrative Rules
Title 67 - Department of Social Services
Article 67:12 - Assistance payments
Chapter 67:12:04 - Limitations on real property
Section 67:12:04:17 - Full and adequate consideration in money or money's worth for property transferred
Universal Citation: SD Admin Rules 67:12:04:17
Current through Register Vol. 50, page 114, March 25, 2024
Any item or service which is received for the property shall be accepted as being within the meaning of the phrase "full and adequate consideration in money or money's worth" as long as the value of the item or service equals the reasonable market value of the property transferred or assigned. When it appears property has been transferred or assigned without full and adequate consideration, the fair market value, determined according to § 67:12:04:10.01, less encumbrances of record, shall be used in determining if the recipient received the full and adequate consideration in money or money's worth.
General Authority: SDCL 28-7-2.
Law Implemented: SDCL 28-7-4.
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