Current Status BillNumber: 2552 Ratification Number: 185 Act Number: 105 Introducing Body: House Subject: Derivation clauseView additional legislative information at the LPITS web site.
(A105, R185, S2552)
AN ACT TO AMEND ACT 463 OF 1976, AS AMENDED, RELATING TO THE REQUIREMENT THAT ALL DEEDS AND MORTGAGES MUST INCLUDE A DERIVATION CLAUSE AND THE ADDRESS OF THE GRANTEE OR THE MORTGAGEE AND PROVIDING FOR THE RECORDATION OF DEEDS AND MORTGAGES LACKING DERIVATION CLAUSES, SO AS TO PROVIDE THAT A DERIVATION CLAUSE IS NOT REQUIRED ON A QUITCLAIM OR NON-WARRANTY DEED OF REAL PROPERTY.
Be it enacted by the General Assembly of the State of South Carolina:
Derivation clause required
SECTION 1. Section 1 of Act 463 of 1976, as last amended by Act 181 of 1977, is further amended to read:
"Section 1. All deeds conveying an interest in land and all mortgages of real estate executed after July 1, 1976, must include a derivation clause in the property description and there must be inscribed on the deed or mortgage the mailing address of the grantee or mortgagee. When the grantor's or mortgagor's title was acquired by deed, the derivation clause must include the name of the grantor and the recording date of that deed. However, when the deed of derivation has been simultaneously executed and delivered and has not then been recorded it is sufficient to set forth in the deed or mortgage the name of the grantor of the deed of derivation and its date and that it is to be recorded. When the grantor's or mortgagor's title was obtained by inheritance or devise, the derivation clause must include the name of the person from whom the title was acquired, the approximate date of acquisition, and, in the case of property acquired under a probated will or administered estate, the probate court in which such estate was filed. However, a derivation clause is not required on a deed or mortgage of property devoted to a utility or railroad purpose of any private or public utility or railroad. Further, a derivation clause is not required on a quitclaim or non-warranty deed of real property."
Time effective
SECTION 2. This act shall take effect upon approval by the Governor.
Approved the 10th day of June, 1983.