South Carolina Code 62-2-610. Ademption by satisfaction
(i) the will provides for deduction of the lifetime gift;
Terms Used In South Carolina Code 62-2-610
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Testator: A male person who leaves a will at death.
(ii) the testator declared in a contemporaneous writing that the gift is to be deducted from the devise; or
(iii) the devisee acknowledged in writing that the gift is in satisfaction of the devise or that its value is to be deducted from the value of the devise.
(b) For purpose of partial satisfaction, property given during lifetime is valued as of the time the devisee came into possession or enjoyment of the property or at the testator’s death, whichever occurs first.
(c) If the devisee fails to survive the testator, the gift is treated as a full or partial satisfaction of the devise, as appropriate, in applying §§ 62-2-603 and 62-2-604, unless the testator’s contemporaneous writing provides otherwise.