Terms Used In South Carolina Code > Title 15 > Chapter 41 > Article 1
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Conservation easement: means a nonpossessory interest of a holder in real property imposing limitations or affirmative obligations, the purposes of which include one or more of the following:
(a) retaining or protecting natural, scenic, or open-space aspects of real property;
(b) ensuring the availability of real property for agricultural, forest, recreational, educational, or open-space use;
(c) protecting natural resources;
(d) maintaining or enhancing air or water quality;
(e) preserving the historical, architectural, archaeological, or cultural aspects of real property. See South Carolina Code 27-8-20
- Contract: A legal written agreement that becomes binding when signed.
- Decedent: A deceased person.
- Dependent: A person dependent for support upon another.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Holder: means :
(a) a governmental body empowered to hold an interest in real property under the laws of this State or the United States; or
(b) a charitable, not-for-profit or educational corporation, association, or trust the purposes or powers of which include one or more of the purposes listed in subsection (1). See South Carolina Code 27-8-20
- personal property: as used in this Title , include money, goods, chattels, things in action and evidences of debt. See South Carolina Code 15-1-40
- Personal property: All property that is not real property.
- property: as used in this Title , includes both real and personal property. See South Carolina Code 15-1-50
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: includes surface waters. See South Carolina Code 27-8-20
- Third-party right of enforcement: means a right provided by the grantor of the conservation easement to enforce selected terms of the conservation easement which is granted to a governmental body, a charitable, not-for-profit, or educational corporation, association, or trust, which though not the holder of the easement, is eligible to be the holder of such easement. See South Carolina Code 27-8-20