The "Heirs' Property Tax Relief Act" aims to amend the South Carolina Code of Laws by modifying Section 12-37-3150, which pertains to the assessment of property transfers. The bill specifically introduces a provision that excludes transfers made among family members for the purpose of clearing the title of heirs' property. This means that when related descendants who have a legal claim to heirs' property transfer their interests to one another, these transactions will not be considered assessable transfers, provided that both the grantor and grantee had an interest in the property prior to the transfer.

The act is designed to facilitate the clearing of titles for heirs' property, which often involves multiple family members having claims to the same property, thereby complicating ownership and tax assessments. The bill will take effect upon approval by the Governor and will apply to property tax years beginning after 2024.

Statutes affected:
05/01/2025: 12-37-3150
Latest Version: 12-37-3150