Definition of terms

Terms as used in this chapter mean: (1) "Commission," the South Dakota Real Estate Commission; (2) "Co - owner," any person, firm, corporation, limited liability company, partnership, association, trust, or legal entity, or any combination thereof who owns a condominium within the project; (3) "Council of co - owners," all co - owners of the condominium; (4) "Master deed" or "master lease," the deed or lease recording the property of the condominium; (5) "Project," the entire parcel of real property divided or to be divided into condominiums, including all structures on the property; (6) "Property," land whether leasehold or fee simple and the buildings or building, all improvements and structures on the land and all easements, rights and appurtenances belonging to the land; (7) "To record," to record pursuant to the laws of this state relating to the recordation of deeds. Source: SL 1975, ch 270 , § 1; SL 1986, ch 302 , § 79; SL 1994, ch 351 , § 101.