South Carolina Deed: A Comprehensive Overview and Types In South Carolina, a deed refers to a legal document that signifies the transfer of interest or ownership rights to a property from one party to another. This document is crucial in real estate transactions as it outlines the specifics of the transfer and ensures the property's rightful owner. Understanding the different types of South Carolina Deeds is essential for buyers, sellers, and anyone involved in property transactions. 1. General Warranty Deed: This is one of the most common types of deeds used in South Carolina. It provides the highest level of protection for the buyer, as the seller guarantees that they hold a clear title to the property and have the right to sell it. It also offers warranties against any potential claims or defects that may arise from earlier in the property's history. 2. Special Warranty Deed: This type of deed is similar to a general warranty deed but with some limitations. The seller guarantees that they haven't caused any defects on the title during their ownership, excluding any claims or defects existing prior to that period. It provides protection to the buyer but to a lesser extent than the general warranty deed. 3. Quitclaim Deed: A quitclaim deed offers the least amount of protection for the buyer. It transfers the seller's interest in the property to the buyer but does not provide any warranties or guarantees regarding the property's title. Typically, used in situations where the parties share a close relationship or when there is a need to clear any potential clouds on the title. 4. Trustee's Deed: This deed is used when property is transferred from a trust to an individual or vice versa. Trustee's deeds are commonly utilized in estate planning or in scenarios where property is held in trust for beneficiaries, allowing for a smooth transfer of ownership while protecting the interests of all involved parties. 5. Sheriff's Deed: This type of deed is used when property is sold at a public auction due to foreclosure or other legal proceedings. Sheriff's deeds transfer the ownership rights to the highest bidder at the auction, typically providing a clean title that is free from liens or claims from the previous owner. Regardless of the type of South Carolina deed used, it is vital for both the buyer and seller to complete the necessary legal process and record the deed with the county's Register of Deeds office. This ensures the validity and enforceability of the transfer while offering protection to all parties involved. In conclusion, South Carolina deeds play a crucial role in property transactions by ensuring the lawful transfer of ownership rights. Understanding the different types of deeds, such as general warranty deeds, special warranty deeds, quitclaim deeds, trustee's deeds, and sheriff's deeds, is vital for individuals involved in South Carolina real estate transactions.
South Carolina Deed
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How to fill out South Carolina Deed?
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The prior owner conveying the property is primarily responsible for payment, and the new owner is secondarily responsible. The deed-recording fee rate is $1.85 for each $500.00 of the real estate's value.
In South Carolina, the formula for the transfer tax, mostly referred to as deed stamps, is $1.85 per $500 of consideration; this is the combined amount for city, county and state taxes. If the consideration is $100,000, the transfer tax is $370, and paid directly to the County Register of Deeds by the closing attorney.
In South Carolina, a quit claim deed is a real property deed that only transfers interest in the property to the grantor who has a title. Unlike a warranty deed, a South Carolina quit claim deed does not guarantee good title to the property.
New Owners Fill out a Transfer of Ownership form. This form must include the previous owner's signature as well as a notary signature. Send to the Division immediately.
South Carolina's deed forms are?from strongest to weakest warranty?as follows: general warranty deed, special warranty deed, and quitclaim deed.
Please note: South Carolina is an Attorney State when it comes to Deed preparation. Any preparation by an individual is considered an unauthorized practice of law. UCC Forms - Click on the SC Secretary of State's Web site below.
To obtain a copy of a plat or deed, contact the local Registers of Deeds office or Clerk of Court.