(1) A payor or other third party is not liable for having made a payment or transferred an item of property or any other benefit to a person designated in a governing instrument who, under this part, is not entitled to the payment or item of property, or for having taken any other action in good faith reliance on the person's apparent entitlement under the terms of the governing instrument, before the payor or other third party received written notice of a claimed lack of entitlement under this part. A payor or other third party is liable for a payment made or other action taken after the payor or other third party received written notice of a claimed lack of entitlement under this part.
(2) Written notice of a claimed lack of entitlement under subsection (1) must be mailed to the payor's or other third party's main office or home by registered or certified mail, return receipt requested, or served upon the payor or other third party in the same manner as a summons in a civil action. Upon receipt of written notice of a claimed lack of entitlement under this part, a payor or other third party may pay any amount owed or transfer or deposit any item of property, other than tangible personal property, held by it to or with the court having jurisdiction of the probate proceedings relating to the decedent's estate, or if no proceedings have been commenced, to or with the court having jurisdiction of probate proceedings relating to decedents' estates located in the county of the decedent's residence. The court shall hold the funds or item of property and, upon its determination under this part, shall order disbursement in accordance with the determination. Payments, transfers, or deposits made to or with the court discharge the payor or other third party from all claims for the value of amounts paid to or items of property transferred to or deposited with the court.
(3) A person who purchases property for value and without notice, or who receives a payment or other item of property in partial or full satisfaction of a legally enforceable obligation, is not obligated under this part to return the payment, item of property, or benefit, and is not liable under this part for the amount of the payment or the value of the item of property or benefit. However, a person who, not for value, receives a payment, item of property, or any other benefit to which the person is not entitled under this part is obligated to return the payment, item of property, or benefit, or is personally liable for the amount of the payment or the value of the item of property or benefit, to the person who is entitled to it under this part.
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.