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Current Status Bill Number:View additional legislative information at the LPITS web site.92 Ratification Number:183 Act Number:174 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:20010110 Primary Sponsor:Wilson All Sponsors:Wilson, Thomas, Reese, Rankin, Branton Drafted Document Number:l:\council\bills\dka\4004mm01.doc Date Bill Passed both Bodies:20020213 Date of Last Amendment:20020206 Governor's Action:U Became law without signature of Governor Date of Governor's Action:20020306 Subject:Probate court, deed of distribution; certain requirements prior to filing deleted; Trusts and Estates, Courts, Property History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ ------ 20020311 Act No. A174 ------ 20020306 Unsigned, became law without signature of Governor ------ 20020227 Ratified R183 Senate 20020213 Concurred in House amendment, enrolled for ratification House 20020207 Read third time, returned with amendment House 20020206 Amended, read second time House 20020130 Committee report: Favorable with 25 HJ amendment House 20010327 Introduced, read first time, 25 HJ referred to Committee Senate 20010322 Read third time, sent to House Senate 20010314 Amended, read second time Senate 20010307 Committee report: Favorable 11 SJ Senate 20010110 Introduced, read first time, 11 SJ referred to Committee Versions of This Bill Revised on March 7, 2001 - Word format Revised on March 14, 2001 - Word format Revised on January 30, 2002 - Word format Revised on February 6, 2002 - Word format
(A174, R183, S92)
AN ACT TO AMEND SECTION 62-3-907, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXECUTION BY THE PERSONAL REPRESENTATIVE OF A DEED OF DISTRIBUTION IN CONNECTION WITH THE ESTATE OF A DECEASED, SO AS TO DELETE THE REQUIREMENT THAT THE DEED OF DISTRIBUTION BE EXAMINED BY THE PROBATE COURT BEFORE FILING OR ACCOMPANIED AT FILING BY AN AFFIDAVIT TO ATTEST TO ITS ACCURACY AND COMPLETENESS IN REGARD TO THE NAMED GRANTEE OR GRANTEES.
Be it enacted by the General Assembly of the State of South Carolina:
Distribution in kind; evidence
SECTION 1. Section 62-3-907 of the 1976 Code, as last amended by Act 398 of 2000, is further amended to read:
"Section 62-3-907. (A) If distribution in kind is made, whether real or personal property, the personal representative must execute an instrument or deed of distribution assigning, transferring, or releasing the assets to the distributee as evidence of the distributee's title to the property.
(B) If the decedent dies intestate or devises real property to a distributee, the personal representative's execution of a deed of distribution of real property constitutes a release of the personal representative's power over the title to the real property, equivalent to that of an absolute owner, in trust, however, for the benefit of the creditors and others interested in the estate, provided by Section 62-3-711(a). The deed of distribution affords the distributee and his purchasers or encumbrancers the protection provided in Sections 62-3-908 and 62-3-910.
(C) If the decedent devises real property to a personal representative, either in a specific or residuary devise, the personal representative's execution of a deed of distribution of the real property constitutes a transfer of the title to the real property from the personal representative to the distributee, as well as a release of the personal representative's power over the title to the real property, equivalent to that of an absolute owner, in trust, however, for the benefit of the creditors and others interested in the estate, provided by Section 62-3-711(a). The deed of distribution affords the distributee, and his purchasers or encumbrancers, the protection provided in Sections 62-3-908 and 62-3-910.
(D) The personal representative's execution of an instrument or deed of distribution of personal property constitutes a transfer of the title to the personal property from the personal representative to the distributee, as well as a release of the personal representative's power over the title to the personal property, equivalent to that of an absolute owner, in trust, however, for the benefit of the creditors and others interested in the estate, provided by Section 62-3-711(a)."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Ratified the 27th day of February, 2002.
Became law without the signature of the Governor -- 3/6/02.
This web page was last updated on Tuesday, December 8, 2009 at 11:07 A.M.