B. Value

• Library: Practical Guide to Commercial Real Estate in South Carolina (SCBar) (2012 Ed.)

B. Value

The value of real property subject to the deed recording fee is determined under S.C. Code Ann. § 12-24-30 which defines the term "value" as:

SECTION 12-24-30. "Value" defined.

(A) For purposes of this chapter, the term "value" means the consideration paid or to be paid in money or money's worth for the realty including other realty, personal property, stocks, bonds, partnership interests, and other intangible property, the forgiveness or cancellation of a debt, the assumption of a debt, and the surrendering of a right. The fair market value of the consideration must be used in calculating the consideration paid in money's worth. Taxpayers may elect to use the fair market value of the realty being transferred in determining fair market value of the consideration under the provisions of this section. However, in the case of realty transferred between a corporation, a

...