Bill 677

                    Current Status

Bill Number:                       677
Type of Legislation:               General Bill GB
Introducing Body:                  Senate
Introduced Date:                   19970422
Primary Sponsor:                   Wilson
All Sponsors:                      Wilson and Hutto 
Drafted Document Number:           s-jud\wilson\jud6039.agw
Residing Body:                     Senate
Current Committee:                 Finance Committee 06 SF
Subject:                           Deed recordings, affidavits to
                                   accompany, provisions; Property,
                                   Taxation

Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________
Senate  19970422  Introduced, read first time,             06 SF
                  referred to Committee

TO AMEND SECTION 12-24-70, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO AFFIDAVITS, SO AS TO PROVIDE THAT AN AFFIDAVIT OF TRUE CONSIDERATION MUST ACCOMPANY EACH DEED PRESENTED FOR RECORDING UNLESS THE TOTAL VALUE OF THE REALTY IS SET FORTH EXPLICITLY IN THE DEED.

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

SECTION 1. Section 12-24-70 of the 1976 Code, as added by Section 57A, Part II, Act No. 458 of 1996, is amended to read:

"Section 12-24-70. (A) Unless the total value of the realty is set forth explicitly in the deed, An an affidavit must accompany every deed presented for recording and must set forth the true, full, and complete value of the realty as defined in Section 12-24-30. In addition, the clerk or register of mesne conveyances may require any other information considered necessary. However, the clerk or register of mesne conveyances, at his discretion, may waive the affidavit requirement.

If the deed is exempt under Section 12-24-40, the affidavit must state that the deed is exempt and state the reason for the exemption. This affidavit must be signed by a responsible person connected with the transaction and the affidavit must state that connection.

(B) The clerk of court or register of mesne conveyances shall must file these affidavits in his office.

A person required to furnish the affidavit who wilfully furnishes a false or fraudulent affidavit is guilty of a misdemeanor and, upon conviction, must be fined not more than one thousand dollars or imprisoned not more than one year, or both."

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