Establishes rules for Transfer on Death (TOD) designations on real property in South Carolina.

This bill amends South Carolina law to establish rules for Transfer on Death (TOD) designations on real property. It allows any owner to establish a TOD designation on titled real property, which transfers ownership to named beneficiaries upon the owner's death. The bill specifies rules for single and multiple owners, including the need for consent from all owners to establish, revoke, or modify a TOD designation. It also details what happens if no surviving beneficiary is named or if multiple beneficiaries survive.

Establishes rules for Transfer on Death (TOD) designations on real property in South Carolina.

This bill amends South Carolina law to establish rules for Transfer on Death (TOD) designations on real property. It allows any owner to establish a TOD designation on titled real property, which transfers ownership to named beneficiaries upon the owner's death. The bill specifies rules for single and multiple owners, including the need for consent from all owners to establish, revoke, or modify a TOD designation. It also details what happens if no surviving beneficiary is named or if multiple beneficiaries survive.