Current Status Introducing Body:Senate Bill Number:1324 Ratification Number:530 Act Number:445 Primary Sponsor:Robert W. Hayes Jr. Type of Legislation:GB Subject:Instruments of conveyances Date Bill Passed both Bodies:Jun 03, 1992 Computer Document Number:436/12145.DW Governor's Action:S Date of Governor's Action:Jul 01, 1992 Introduced Date:Feb 25, 1992 Last History Body:------ Last History Date:Jul 01, 1992 Last History Type:Act No. 445 Scope of Legislation:Statewide All Sponsors:Robert W. Hayes Jr. Type of Legislation:General Bill
Bill Body Date Action Description CMN
---- ------ ------------ ------------------------------ ---
1324 ------ Jul 01, 1992 Act No. 445
1324 ------ Jul 01, 1992 Signed by Governor
1324 ------ Jun 04, 1992 Ratified R 530
1324 House Jun 03, 1992 Read third time, enrolled for
ratification
1324 House Jun 02, 1992 Read second time
1324 House May 27, 1992 Debate adjourned until
Tuesday, June 2, 1992
1324 House May 13, 1992 Committee Report: Favorable 25
1324 House Mar 31, 1992 Introduced, read first time, 25
referred to Committee
1324 Senate Mar 30, 1992 Read third time, sent to House
1324 Senate Mar 26, 1992 Read second time
1324 Senate Mar 25, 1992 Committee Report: Favorable 11
1324 Senate Feb 25, 1992 Introduced, read first time, 11
referred to Committee
View additional legislative information at the LPITS web site.
(A445, R530, S1324)
AN ACT TO AMEND SECTION 12-21-440, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE REQUIREMENT THAT INSTRUMENTS OF CONVEYANCE NOT BE RECORDED UNLESS STAMPED AND ACCOMPANIED BY AN AFFIDAVIT OF TRUE CONSIDERATION, SO AS TO EXEMPT CONVEYANCES OF THE FEDERAL GOVERNMENT FROM THE REQUIREMENTS OF FILING THE AFFIDAVIT.
Be it enacted by the General Assembly of the State of South Carolina:
Instruments of conveyance, requirements for being recorded, exemption
SECTION 1. Section 12-21-440 of the 1976 Code is amended to read:
"Section 12-21-440. Clerks of court and registers of mesne conveyances may not record any conveyance or other instrument which may be taxable under the provisions of this chapter unless the conveyance or other taxable instrument has attached to it the revenue stamps required by the provisions of this chapter and all conveyances or other taxable instruments must have in it and as a part of the conveyance or other taxable instrument the true, full, and complete consideration of it, paid or to be paid, delivered or to be delivered. The instrument may not be recorded unless the true, full, and complete consideration is set forth in it except that if a deed or other taxable instrument is presented for recording to any clerk of court or register of mesne conveyances without showing the true, full, and complete consideration in it, the clerk of court or register of mesne conveyances may record it upon the receipt of an affidavit, executed by a responsible person connected with the transaction and showing the connection, setting forth the true, full, and complete consideration of it, paid or to be paid. Revenue stamps must be affixed to the deed or other taxable instrument in accordance with the value shown in the affidavit. However, conveyances of the federal government are exempt from the requirement of filing the affidavit. The clerk of court or register of mesne conveyance shall file all of these affidavits in his office."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 1st day of July, 1992.