SDCL § 43-25-35: Fraud does not avoid instrument affecting estate in real property in favor of subsequent purchaser or encumbrancer with notice--Exception.

No instrument is to be avoided under § 43-25-34 in favor of a subsequent purchaser or encumbrancer having notice thereof at the time his purchase was made or his lien acquired, unless the person in whose favor the instrument was made was privy to the fraud intended.