A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-3150, RELATING TO DETERMINING WHEN AN ASSESSABLE TRANSFER OF INTEREST OCCURS, SO AS TO EXCLUDE TRANSFERS MADE AMONGST RELATED DESCENDANTS TO CLEAR THE TITLE OF the HEIRS' PROPERTY.

 

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

 

SECTION 1.  Section 12-37-3150(B) of the S.C. Code is amended by adding:

 

    (16) transfers made amongst related descendants who have legal claim to heirs' property to clear the title of the heirs' property, whereby both the grantor and grantee owned an interest in the property prior to the transfer.

 

SECTION 2.  This act takes effect upon approval by the Governor and applies to property tax years beginning after 2024.

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