South Carolina Code 62-6-203. Rights of parties and beneficiaries
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(a) Rights at death of a party under § 62-6-202 are determined by the terms of the account at the death of the party. A party may alter the terms of the account by a notice signed by the party and given to the financial institution to change the terms of the account or to stop or vary payment under the terms of the account. To be effective the notice must be received by the financial institution during the party’s lifetime.
(b) A right of survivorship arising from the express terms of the account under § 62-6-202 may be altered by clear and convincing evidence, including but not limited to express provisions in a will.
Terms Used In South Carolina Code 62-6-203
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
(c) A multiple-party account of husband and wife is presumed to be joint with right of survivorship unless clear and convincing evidence shows survivorship was not the intent of the party.