Title 47 — Property

A gift made during the last illness of the giver or under circumstances which naturally would impress the giver with an expectation of speedy death is presumed to be a gift in view of death.

A gift in view of death may be revoked by the giver at any time and is revoked by the giver's recovery from the illness or escape from the peril under the presence of which it was made or by the occurrence of any event which would operate as a revocation of a will made at the sam…

A gift in view of death is not affected by a previous will nor by a subsequent will unless it expresses an intention to revoke the gift.

A gift in view of death must be treated as a legacy so far as it relates only to the creditors of the giver. 47-11-14. Transfer of personal property by grantor to grantor and others in joint tenancy. Any person, firm, corporation, or limited liability company owning an interest e…

A nontestamentary transfer of personal property between spouses shall be presumed to be for a consideration, and not a gift, unless otherwise stated in writing at the time of transfer. This presumption is conclusive.

A loan for use is a contract by which a lender gives to a borrower the temporary possession and use of personal property and the borrower agrees to return the identical personal property to the lender at a future time without reward for its use.

A borrower for use shall exercise great care for the preservation in safety and in good condition of the personal property borrowed.

A borrower for use is bound to have and exercise such degree of skill in the care of the personal property borrowed as the borrower causes the lender to believe the borrower to possess.

One who borrows a living animal for use shall treat it with great kindness and provide everything necessary and suitable for its general well-being.

A loan for use does not transfer the title to the personal property. Its total increase during the period of the loan belongs to the lender.

The borrower of personal property for use may use it for such purposes only as the lender might reasonably anticipate at the time of lending.

The borrower of personal property for use shall not part with it to a third person without the consent of the lender. 47-12-08. Expenses in connection with borrowed personal property to be borne by borrower - Exception. The borrower of personal property for use must bear all expe…

The lender of personal property for use shall indemnify the borrower for damages caused by defects or vices in it about which the lender knew at the time of lending and concealed from the borrower.

A borrower for use must repair all deteriorations or injuries to the personal property borrowed which are occasioned by the borrower's negligence, however slight.

The lender of personal property for use may require its return at any time even though the lender lent it for a specified time or purpose. If, on the faith of such an agreement, the borrower has made such arrangements that a return of the property before the time agreed upon woul…

If personal property is lent for use for a specified time or purpose, it must be returned to the lender without demand as soon as the time has expired or the purpose has been accomplished. In any other case, it need not be returned until demanded. The borrower of personal propert…

A loan for exchange is a contract by which one delivers personal property to another and the latter agrees to return to the lender a similar thing at a future time without reward for its use.

A loan which the borrower is allowed by the lender to treat as a loan for use or for exchange at the borrower's option is subject to all the provisions of this chapter.

By a loan for exchange, the title to the thing lent is transferred to the borrower, and the borrower must bear all the expenses in connection therewith and is entitled to all the increase thereof.

A lender for exchange may not require the borrower to fulfill the borrower's obligations at a time or in a manner different from that which originally was agreed upon.

The lender of personal property for exchange shall indemnify the borrower for damages caused by defects or vices in it of which the lender knew at the time of the exchange and concealed from the borrower.

If personal property is exchanged for a specific time or purpose, a similar article shall be returned to the lender without demand as soon as the time has expired or the purpose has been accomplished. In any other case, it need not be returned until demanded. The borrower of pers…

A loan of money is a contract by which one delivers a sum of money to another and the latter agrees to return at a future time a sum equivalent to that which the person borrowed. A loan for mere use is governed by chapter 47-12.

A borrower of money must pay the amount due in such money as is current at the time when the loan becomes due, whether such money is worth more or less than the actual money lent.

Whenever a loan of money is made, it is presumed to be made upon interest unless it is expressly stipulated otherwise in writing at the time it is made.

Interest is the compensation allowed for the use, or forbearance, or detention of money, or its equivalent.

Interest for any legal indebtedness must be at the rate of six percent per annum unless a different rate not to exceed the rate specified in section 47-14-09 is contracted for in writing. Unless otherwise agreed by the parties in writing, all contracts must bear the same rate of …

When a rate of interest is prescribed by a law or contract without specifying the period of time by which such rate is to be calculated, it shall be deemed an annual rate.

Any legal rate of interest stipulated by a contract remains chargeable after a breach until the contract is superseded by a verdict or other new obligation.

The interest which would become due at the end of the term for which a loan is made, not exceeding one year's interest in all, may be deducted from the loan in advance if the parties thus agree.

1. Except as otherwise provided by the laws of this state, a person, either directly or indirectly, may not take or receive, or agree to take or receive, in money, goods, or things in action, or in any other way, any greater sum or greater value for the loan or forbearance of mon…

The taking, receiving, reserving, or charging of a rate of interest greater than is allowed by the laws of this state relative to usury shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it or which has been agreed to …

Any person who shall take, receive, reserve, or charge a usurious rate of interest, in addition to being liable for the penalties and forfeitures specified in section 47-14-10, shall be guilty of a class B misdemeanor.

Hiring is a contract by which one gives to another the temporary possession and use of personal property, other than goods subject to chapter 41-02.1 or money, for reward, and the latter agrees to return the same to the former at a future time.

One who lets personal property must: 1. Deliver it to the hirer; 2. Secure the hirer's quiet enjoyment thereof against all lawful claimants; 3. Put it into a condition fit for the purpose for which the letter lets it; and 4. Repair all deteriorations thereof not occasioned by the…

If a letter fails to fulfill the letter's obligations as prescribed by section 47-15-02, the hirer, after giving the letter notice to do so, if such notice may be given conveniently, may expend any reasonable amount necessary to make good the letter's default and may recover such…

The hirer of personal property must use ordinary care for its preservation in safety and in good condition.

When personal property is let for a particular purpose, the hirer must not use it for any other purpose. If the hirer uses it for a purpose other than that for which it was let, the letter may hold the hirer responsible for its safety during such use in all events, or may treat t…

The products of personal property hired, during the hiring, belong to the hirer.

The hirer of personal property must repair all deteriorations or injuries thereto occasioned by the hirer's ordinary or gross negligence.

A hirer of personal property must bear all such expenses concerning it as naturally might be foreseen to attend it during its use by the hirer. All other expenses must be borne by the letter.

The hiring of personal property terminates: 1. At the end of the term agreed upon; 2. By the mutual consent of the parties; 3. By the hirer's acquiring a title to the property hired superior to that of the letter; 4. By the destruction of the property hired; or 5. If the hiring i…

The letter of personal property may terminate the hiring and reclaim the property before the end of the term agreed upon when the: 1. Hirer uses or permits a use of the property hired in a manner contrary to the agreement of the parties; or 2. Hirer does not make, within a reason…

The hirer of personal property may terminate the hiring before the end of the term agreed upon: 1. When the letter, within a reasonable time after request, does not fulfill the letter's obligations, if any, as to placing and securing the hirer in the quiet possession of the thing…

When the hiring of personal property is terminated before the time originally agreed upon, the hirer must pay the due proportion of the hire for such use as the hirer actually has made of the property unless such use is merely nominal and of no benefit to the hirer.

At the expiration of the term for which personal property is hired, the hirer must return it to the letter at the place contemplated by the parties at the time of hiring, or if no particular place was contemplated by them, at the place at which it was at the time of hiring.

Leasing is a contract by which one gives to another the temporary possession and use of real property for reward and the latter agrees to return such possession to the former at a future time.

No lease or grant of agricultural land reserving any rent or service of any kind for a longer period than ten years shall be valid. No lease or grant of any city lot reserving any rent or service of any kind for a longer period than ninety-nine years shall be valid.

A political subdivision may not enact, maintain, or enforce an ordinance or resolution that would have the effect of controlling the amount of rent charged for leasing private residential or commercial property. This section does not impair the right of a political subdivision to…

In the absence of any agreement to the contrary between the lessor and the lessee, the products received from real property during the term of a lease belong to the lessee.