South Carolina General Assembly
114th Session, 2001-2002

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Bill 92


Indicates Matter Stricken
Indicates New Matter


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)


Indicates Matter Stricken

Indicates New Matter

AMENDED

February 6, 2002

    S. 92

Introduced by Senators Wilson, Thomas, Reese, Rankin and Branton

S. Printed 2/6/02--H.

Read the first time March 27, 2001.

            

A BILL

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.

    Amend Title To Conform

Be it enacted by the General Assembly of the State of South Carolina:

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).

    (E) Prior to recording the deed of distribution:

        (1)        the deed of distribution must be examined by the probate judge to determine that the grantee or grantees named in the deed of distribution conform to the terms of the will or, in cases of intestacy, to the heirs at law as shown on Form 300PC. The seal of the probate court must be impressed upon the first page of the deed of distribution indicating that the examination has been completed; or

        (2)        the deed of distribution must be accompanied by an affidavit from a licensed attorney asserting that the grantee or grantees named in the deed of distribution conform to the terms of the will, or in cases of intestacy, to the heirs at law as shown on Form 300PC."

SECTION    2.    This act takes effect upon approval by the Governor.

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