Section 43-26-6 - Subject matter of contract for purchase and sale of realty not transferred--Destructionwithout fault of purchaser--Taking by eminent domain--Contract unenforceable--Recoveryof purcha - South Dakota Statutes

43-26-6. Subject matter of contract for purchase and sale of realty not transferred--Destruction without fault of purchaser--Taking by eminent domain--Contract unenforceable--Recovery of purchase price. If, when neither the legal title nor the possession of the subject matter of the contract has been transferred, all or a material part thereof is destroyed without fault of the purchaser or is taken by eminent domain, the vendor cannot enforce the contract, and the purchaser is entitled to recover any portion of the price that he has paid.

Source: SL 1937, ch 258, § 1; SDC 1939 & Supp 1960, § 37.1807 (1).