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Current Status Bill Number:View additional legislative information at the LPITS web site.182 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19990112 Primary Sponsor:Thomas All Sponsors:Thomas, Wilson Drafted Document Number:l:\council\bills\dka\3054mm99.doc Residing Body:Senate Current Committee:Judiciary Committee 11 SJ Subject:Probate estate, collection of personal property by affidavit when; Courts, Trusts and Estates History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 19990112 Introduced, read first time, 11 SJ referred to Committee Senate 19981216 Prefiled, referred to Committee 11 SJ Versions of This Bill
TO AMEND SECTION 62-3-1201, AS AMENDED, CODE OF LAWS OF SOUTH CAROLNA, 1976, RELATING TO COLLECTION OF PERSONAL PROPERTY OF A PROBATE ESTATE BY AFFIDAVIT WHEN THE VALUE OF THE PROBATE ESTATE DOES NOT EXCEED TEN THOUSAND DOLLARS, SO AS TO PROVIDE FOR THE SALE OF REAL OR PERSONAL PROPERTY OF A PROBATE ESTATE OF LESS THAN TEN THOUSAND DOLLARS PURSUANT TO LIMITED POWER OF ATTORNEY ISSUED BY THE PROBATE JUDGE OR THE FAMILY COURT JUDGE TO THE SUCCESSOR OF THE DECEDENT UPON PRESENTATION OF AN AFFIDAVIT AND TO SPECIFY PROVISIONS OF THE AFFIDAVIT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 62-3-1201 of the 1976 Code, as last amended by Act 521 of 1990, is further amended to read:
"Section 62-3-1201. (a)(A)(1) Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock, or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or the instrument evidencing the debt, obligation, stock, or chose in action to a person claiming to be the successor of the decedent upon being presented an affidavit made by or on behalf of the successor. Before this affidavit may be presented to collect the decedent's personal property, it must:
(1)(a) state that the value of the entire probate estate (the decedent's property passing under the decedent's will plus the decedent's property passing by intestacy), wherever located, less liens and encumbrances, does not exceed ten thousand dollars;
(2)(b) state that thirty days have elapsed since the death of the decedent;
(3)(c) state that no application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction;
(4)(d) state that the claiming successor is entitled to payment or delivery of the property;
(5)(e) be approved and countersigned by the probate judge of the county of the decedent's residence at the time of his death and only upon the judge's satisfaction that the successor is entitled to payment or delivery of the property; and
(6)(f) be filed in the probate court.
(b)(2) A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors upon the presentation of an affidavit as provided in subsection (a)(A).
(B) Thirty days after the death of a decedent, a person claiming to be the successor of the decedent may present an affidavit made by him or on his behalf to the probate court or the family court to obtain a limited power of attorney issued to him by the court for the sole purpose of selling a portion of the probate estate. The affidavit must:
(1) state that the value of the entire probate estate (the decedent's real and personal property passing under the decedent's will plus the decedent's real and personal property passing by intestacy), wherever located, less liens and encumbrances, does not exceed ten thousand dollars;
(2) state that thirty days have elapsed since the death of the decedent;
(3) state that no application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction;
(4) state that the affiant, or the person on whose behalf the affidavit is made, is the successor of the decedent;
(5) state the proposed terms of the sale, including a description of the personal or real property to be sold, the purchase price, a date of sale, and the name and address of the purchaser;
(6) be approved and countersigned by the probate judge or family court judge of the county of the decedent's residence at the time of his death and only upon the judge's satisfaction that the affiant, or the person on whose behalf the affidavit is made, is the successor of the decedent and that the terms of the proposed sale are reasonable under the circumstances; and
(7) be filed in the probate court."
SECTION 2. This act takes effect upon approval by the Governor.
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