Heirs' Property
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill modifies South Carolina law regarding ‘heirs’ property, which is real estate passed down through families without formal deeds. Specifically, it clarifies that transfers of ownership between related descendants – those who already own a share of the property – are not considered an ‘assessable transfer of interest.’ This change aims to simplify the process of transferring heirs’ property within families.
Key provisions
- Defines ‘assessable transfer of interest’ for heirs’ property.
- Excludes transfers between related descendants who own a share of the property.
- Specifically addresses transfers where both grantor and grantee previously held an interest.
- Amends Section 12-37-3150 of the South Carolina Code.
Who is affected
- Heirs’ property owners
- Descendants of heirs’ property owners
- Legal professionals dealing with estates and property law
- South Carolina courts
Notable changes
- Clarifies the definition of an ‘assessable transfer’ within the context of heirs’ property.
- Provides an exception to the transfer assessment rules for family transfers.
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
6 on record
Primary sponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours