For purposes of this part:
(1) "Co-owners with right of survivorship" includes joint tenants in a joint tenancy with right of survivorship, joint tenants in a tenancy in common with right of survivorship, tenants by the entireties, and other co-owners of property or accounts held under circumstances that entitle one or more to the whole of the property or account on the death of the other or others.
(2) "Governing instrument" means a deed, will, trust, insurance or annuity policy, account with POD designation, pension, profit-sharing, retirement, or similar benefit plan, instrument creating or exercising a power of appointment or a power of attorney, or a dispositive, appointive, or nominative instrument of any similar type.
(3) "Payor" means a trustee, insurer, business entity, employer, government, governmental agency, subdivision, or instrumentality, or any other person authorized or obligated by law or a governing instrument to make payments.
HISTORY: 2013 Act No. 100, Section 1, eff January 1, 2014.
Structure South Carolina Code of Laws
Title 62 - South Carolina Probate Code
Article 1 - General Provisions, Definitions, And Probate Jurisdiction Of Court
Section 62-1-100. Effective date.
Section 62-1-101. Short title.
Section 62-1-102. Purposes; rules of construction.
Section 62-1-103. Supplementary general principles of law applicable.
Section 62-1-104. Severability.
Section 62-1-105. Construction against implied repeal.
Section 62-1-106. Effect of fraud and evasion.
Section 62-1-107. Evidence as to death or status.
Section 62-1-108. Acts by holder of general power.
Section 62-1-109. Duties and obligations of lawyer and person serving as a fiduciary.
Section 62-1-110. Fiduciary and lawyer, privileged communication.
Section 62-1-111. Authority to award costs and expenses.
Section 62-1-112. Inherent power of court.
Section 62-1-201. General definitions.
Section 62-1-301. Territorial application.
Section 62-1-302. Subject matter jurisdiction; concurrent jurisdiction with family court.
Section 62-1-303. Venue; multiple proceedings; transfer.
Section 62-1-304. South Carolina Rules of Civil Procedure govern formal proceedings.
Section 62-1-305. Records and certified copies.
Section 62-1-306. Jury trials.
Section 62-1-307. Probate judge; powers.
Section 62-1-309. Election and term of judges.
Section 62-1-401. Notice; method and time of giving.
Section 62-1-402. Notice; waiver.
Section 62-1-403. Pleadings; when parties bound by others; notice.
Section 62-1-500. Short title.
Section 62-1-501. Definitions.
Section 62-1-503. Requirement of survival by 120 hours under governing instruments.
Section 62-1-504. Co-owners with right of survivorship; requirement of survival by 120 hours.
Section 62-1-505. Right or benefit that depends on surviving the death of a decedent's killer.