South Dakota Real Estate Practice Exam

In a property transaction, the passing of title from the seller to the buyer is contingent upon the delivery and acceptance of the deed. If the deed is delivered on a specific date, that date is critical in determining when the title officially transfers.

In this case, it is stated that the deed is delivered on November 15. Therefore, this is the date on which the title passes to the buyer, assuming that all other conditions for the transfer, such as payment or contractual obligations, have been satisfied. This demonstrates the importance of the deed delivery as a legal instrument that facilitates the transfer of ownership. The significance lies in the principle that ownership is transferred upon acceptance of the deed by the buyer, ensuring legal clarity in property transactions.

The other dates associated with options may suggest different transactions or scenarios, but they do not align with the context that title passes specifically when the deed is delivered, which supports the assertion that November 15 is the correct date for the transfer of title in this situation.