The bill H. 4071 aims to amend Section 12-37-3150 of the South Carolina Code of Laws, specifically regarding the determination of assessable transfers of interest. The proposed amendment introduces a new provision that excludes transfers made among related descendants who have a legal claim to heirs' property for the purpose of clearing the title of that property. This means that if both the grantor and grantee had an interest in the property prior to the transfer, such transactions will not be considered assessable transfers.

The bill is designed to facilitate the process of clearing titles for heirs' property, which often involves multiple family members and can be complicated by legal claims. The changes will take effect upon approval by the Governor and will apply to property tax years beginning after 2024.

Statutes affected:
02/20/2025: 12-37-3150
Latest Version: 12-37-3150