Escrow & Title
In South Dakota, which statement is TRUE about recording a deed?
ARecording is required for a deed to be valid between the parties
BRecording is not required between the parties but protects against subsequent claimants✓ Correct
CRecording automatically guarantees title against all claims
DRecording must occur within 30 days of the transfer by law
Explanation
Between the grantor and grantee, a deed is effective when delivered and accepted. Recording provides constructive notice to third parties, protecting the grantee from subsequent competing claims.
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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).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
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