2003-2004 Bill 3133: Nonmarital Property Further Defined - South Carolina Legislature Online

1 South Carolina General Assembly 2 115th Session, 2003-2004 3 4 H. 3133 5 6 STATUS INFORMATION 7 8 General Bill 9 Sponsors: Reps. Altman and Umphlett 10 Document Path: l:\council\bills\pt\1141mm03.doc 11 12 Introduced in the House on January 14, 2003 13 Introduced in the Senate on April 23, 2003 14 Currently residing in the Senate Committee on Judiciary 15 16 Summary: Nonmarital property further defined 17 18 19 HISTORY OF LEGISLATIVE ACTIONS 20 21 Date Body Action Description with journal page number 22 12/4/2002 House Prefiled 23 12/4/2002 House Referred to Committee on Judiciary 24 1/14/2003 House Introduced and read first time HJ-57 25 1/14/2003 House Referred to Committee on Judiciary HJ-57 26 4/9/2003 House Committee report: Favorable Judiciary HJ-6 27 4/22/2003 House Read second time HJ-26 28 4/23/2003 House Read third time and sent to Senate HJ-18 29 4/23/2003 Senate Introduced and read first time SJ-13 30 4/23/2003 Senate Referred to Committee on Judiciary SJ-13 31 32 33 VERSIONS OF THIS BILL 34 35 12/4/2002 36 4/9/2003 37 1 Indicates Matter Stricken 2 Indicates New Matter 3 4 COMMITTEE REPORT 5 April 9, 2003 6 7 H. 3133 8 9 Introduced by Reps. Altman and Umphlett 10 11 S. Printed 4/9/03--H. 12 Read the first time January 14, 2003. 13 14 15 THE COMMITTEE ON JUDICIARY 16 To whom was referred a Bill (H. 3133) to amend Section 17 20-7-473, Code of Laws of South Carolina, 1976, relating to 18 marital and nonmarital property for purposes of judicial 19 apportionment during marital litigation, etc., respectfully 20 REPORT: 21 That they have duly and carefully considered the same and 22 recommend that the same do pass: 23 24 JAMES H. HARRISON for Committee. 25

1 [3133-1] 1 2 3 4 5 6 7 8 9 A BILL 10 11 TO AMEND SECTION 20-7-473, CODE OF LAWS OF SOUTH 12 CAROLINA, 1976, RELATING TO MARITAL AND 13 NONMARITAL PROPERTY FOR PURPOSES OF JUDICIAL 14 APPORTIONMENT DURING MARITAL LITIGATION, SO AS 15 TO INCLUDE AS NONMARITAL PROPERTY ANY 16 PROPERTY THAT IS NEITHER ACQUIRED WITH MARITAL 17 FUNDS NOR TITLED IN THE NAME OF ONE OR THE 18 OTHER SPOUSE, OR BOTH OF THEM, AND TO PROVIDE 19 THAT THE PROPERTY MAY NOT BE APPORTIONED 20 PERMANENTLY OR TEMPORARILY NOR TRANSMUTED 21 INTO MARITAL PROPERTY FOR ANY PURPOSE. 22 23 Be it enacted by the General Assembly of the State of South 24 Carolina: 25 26 SECTION 1. Section 20-7-473 of the 1976 Code is amended to 27 read: 28 29 “Section 20-7-473. (A) The term ‘marital property’ as used in 30 this article means all real and personal property which has been 31 acquired by the parties during the marriage and which is owned as 32 of the date of filing or commencement of marital litigation as 33 provided in Section 20-7-472 regardless of how legal title is held 34 which spouse holds legal title, except the following, which 35 constitute are nonmarital property: 36 (1) property acquired by either party by inheritance, devise, 37 bequest, or gift from a party other than the spouse; 38 (2) property acquired by either party before the marriage and 39 property acquired after the happening of the earliest of: 40 (a) entry of a pendente lite order in a divorce or separate 41 maintenance action;

1 [3133] 1 1 (b) formal signing of a written property or marital 2 settlement agreement; or 3 (c) entry of a permanent order of separate maintenance 4 and support or of a permanent order approving a property or 5 marital settlement agreement between the parties; 6 (3) property acquired by either party in exchange for 7 property described in items (1) and (2) of this section subsection; 8 (4) property excluded by written contract of the parties. 9 ‘Written contract’ includes any an antenuptial agreement of the 10 parties which must be considered presumptively fair and equitable 11 so long as it was voluntarily executed with both parties separately 12 represented by counsel and pursuant to the full financial disclosure 13 to each other that is mandated by the rules of the family court as to 14 income, debts, and assets; 15 (5) any an increase in value in nonmarital property, except to 16 the extent that the increase resulted directly or indirectly from 17 efforts of the other spouse during marriage; 18 (6) property that is neither acquired with marital funds nor 19 titled in the name of one or the other spouse, or both of them. 20 Property described in this item must not be: 21 (a) the subject of a marital equitable claim or distribution 22 between the spouses; 23 (b) apportioned temporarily or permanently to either 24 spouse; or 25 (c) transmuted into marital property for any purpose. 26 (B) Interspousal gifts of property, including gifts of property 27 from one spouse to the other made indirectly by way of a third 28 party, are marital property which is subject to division. 29 (C) The court does not have jurisdiction or authority to 30 apportion nonmarital property.” 31 32 SECTION 2. This act takes effect upon approval by the Governor 33 and applies to an action filed after that date and to an action then 34 pending in which a notice of intention to appeal has not been filed. 35 ----XX---- 36

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