South Carolina General Assembly
117th Session, 2007-2008

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Bill 4067

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

RECALLED

May 28, 2008

H. 4067

Introduced by Rep. Harrison

S. Printed 5/28/08--S.

Read the first time April 9, 2008.

            

A BILL

TO AMEND SECTION 12-24-10, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEED RECORDING FEE, SO AS TO EXEMPT A DEED TRANSFERRING REAL PROPERTY FROM A TRUST TO A TRUST DISTRIBUTEE UPON THE DEATH OF THE SETTLOR UPON CERTAIN CONDITIONS.

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

SECTION    1.    Section 12-24-10(B) of the 1976 Code, as added by Act 323 of 2006, is amended to read:

"(B)    An instrument or deed of distribution assigning, transferring, or releasing real property to the distributee of a decedent's estate pursuant to Section 62-3-907 as evidence of the distributee's title to the property is not a deed subject to this chapter. In addition, a deed transferring real property from a trust to a trust distributee upon the trust settlor's death, pursuant to the trust terms, is not a deed subject to this chapter if a deed of distribution would be the appropriate instrument to transfer the subject property if the property were part of the decedent's probate estate."

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

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