A South Carolina quitclaim deed simplifies property transfer without warranties, transferring the grantor’s interest to the grantee. However, the grantor isn’t responsible for any encumbrances or liens on the property. The grantee accepts full responsibility and has limited options for recourse if the quality of the property owner’s title is poor.
When filling out this document, it’s important to consider specific information about the transaction, accompanying paperwork and fees, and particular methods for signing and filing.
Laws & Requirements
Statute: South Carolina doesn’t have strict requirements for the language to use in a quitclaim deed. You can generally state that the current owner releases, remises, and forever quitclaims the property to the grantee. State law assumes that a quitclaim deed conveys all interests the grantor can lawfully convey, but parties can edit a deed to transfer a lesser interest.
Signing Requirements: The grantor signs the quitclaim deed and has their signature acknowledged by a notary or another authorized official. The signature needs two witnesses; one can be the notary/public official (SC Code § 30-5-30).
Recording Requirements: The deed must be recorded at the county’s Register of Deeds or Clerk of Court (if there’s no separate Register of Deeds). A separate filing fee may apply (SC Code § 30-7-10).
Transfer Tax: Yes (SC Code § 12-24-10).
Additional Documents: The grantor must file an affidavit with the deed that either states the property’s value or provides a reason for the deed’s exemption from the deed recording fee (SC Code § 12-24-70).
How to File
- Acquire the Original Deed: Acquire the original deed from the current property owner.
- Fill in the Preparer’s Details: Fill in the preparer’s details, whether it be you as the grantor or an attorney you’ve hired to assist you.
- Write “Return to” Information: Indicate who should receive the deed when the register of deeds is done with it.
- Detail Consideration: Write whether the grantor will receive consideration for the property transfer.
- Provide the Grantor’s and Grantee’s Details: Write the grantor’s and grantee’s details, including their names and complete addresses.
- Give a Legal Description: Give the property’s legal description and official address.
- Seek Notarization: Have the grantor sign the document before two witnesses, one of which can be the required notary public.
- Obtain an Affidavit: Obtain an affidavit to certify the property’s value.
- File: File the quitclaim deed with the register of deeds of the county where the property is located.
Costs and Fees
Filing Fees
- Filing fees: Filing fees are separate from a statewide deed recording fee and vary from county to county. Check with your local register of deeds (or clerk of courts, in the absence of a register of deeds) to learn about the applicable filing fees in your county at any given time.
Taxes
- Documentary Transfer Tax (DTT): South Carolina refers to the documentary transfer tax as a deed recording fee. A portion of the fee goes to the state, and the other goes to the county. The fee is paid electronically or with a paper form (Form L-2125).
- US Gift Tax (Form 709): The state has no gift tax, but a federal gift tax may apply for gifts greater than a certain amount in any given year.
- Capital Gains Tax: The state taxes capital gains as regular income, so the rate can range from 0 to 6.4% for the 2023 tax year. The US also has federal capital gains taxes, as discussed in IRS Topic No. 409 and IRS Publication 551.
Frequently Asked Questions
How Do I Remove a Name from a Deed in South Carolina?
You can only remove a name from a deed by having the person in question sign a new deed indicating they’re transferring the interest to someone else. A quitclaim deed may be the simplest process when engaging in more intimate affairs, like removing a spouse from the title or transferring property to a family member.
How Long is a Quitclaim Deed Good for in South Carolina?
Quitclaim deeds don’t have expiration dates because they permanently convey interest from one individual to another. However, it’s still important to record the need deed with the county clerk’s office to minimize legal and financial challenges.
What Is a Quiet Title Action in South Carolina?
A quiet title action is when a real property owner asks a court to remove any other claimed interests in the property. It lets the owner enjoy their property free and clear, even if they don’t have a clear title.
This action is permissible under SC Code § 15-67-10, which states that any person possessing real property or claiming the title to unoccupied or vacant real property may bring an action against any person who claims an estate or interest thereon.
