Escrow & Title
In South Dakota, the 'granting clause' in a deed is the provision that:
AStates the amount of money paid for the property
BContains the operative words of conveyance transferring ownership from grantor to grantee✓ Correct
CDescribes the boundaries of the property being transferred
DGrants easements to neighboring property owners
Explanation
The granting clause contains the operative words that transfer ownership — words like 'grant, bargain, sell and convey' or 'give, grant and convey.' Without a valid granting clause, no transfer of ownership occurs.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Math Concepts
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