{"data":{"id":"us-sd/sdcl-55-16-1","jurisdiction":"us-sd","citation":"SDCL § 55-16-1","heading":"Definitions.","body":"Terms used in this chapter mean:\n(1) \"Claim,\" a right to payment, whether or not the right is reduced to judgment liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured;\n(2) \"Creditor,\" with respect to a transferor, a person who has a claim;\n(3) \"Debt,\" liability on a claim;\n(4) \"Disposition,\" a transfer, conveyance, or assignment of property, including a change in the legal ownership of property occurring upon the substitution of one trustee for another or the addition of one or more new trustees, or the exercise of a power so as to cause a transfer of property to a trustee or trustees. The term does not include the release or relinquishment of an interest in property that theretofore was the subject of a qualified disposition;\n(5) \"Property,\" real property, personal property, and interests in real or personal property;\n(6) \"Qualified disposition,\" a disposition by or from a transferor to a qualified person or qualified persons, without consideration or for less than fair market value, by means of a trust instrument;\n(7) \"Spouse\" and \"former spouse,\" only persons to whom the transferor was married at, or before, the time the qualified disposition is made;\n(8) \"Transferor,\" any person as an owner of property; as a holder of a power of appointment which authorizes the holder to appoint in favor of the holder, the holder's creditors, the holder's estate, or the creditors of the holder's estate; or as a trustee, directly or indirectly, makes a disposition or causes a disposition to be made.\nThe terms, transferor and beneficiary, may be any person as defined in subdivision 55-4-1(2).","path":["TITLE 55. FIDUCIARIES AND TRUSTS","CHAPTER 55-16. QUALIFIED DISPOSITIONS IN TRUST"],"source_url":"https://sdlegislature.gov/Statutes/55-16-1","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"3e6d760d476fb99fb86a8b2a14aa10f26b5a7e7d2ff55cc5a1e92991636a581d","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-55-15-15","next":"us-sd/sdcl-55-16-2"},"notice":"GroundRules: Original legal text. Not legal advice."}