(A) Upon failure of the defaulting taxpayer, any grantee from the owner, or any mortgage or judgment creditor, to redeem realty within the time period hereinabove allowed for redemption, the official charged with the collection of delinquent taxes shall within 20 days make a tax title to the purchaser or the purchaser’s assignee and delivery of the tax title to the clerk of court shall be considered “putting the purchaser (or assignee) in possession.” The tax title shall include, among other things, the name of the defaulting taxpayer, the date of the execution, the date the realty was posted and by whom if such be the case, and the dates each certified notice was mailed to the parties of interest, to whom mailed and whether or not received by the addressee. The successful purchaser (or assignee) shall be responsible in the amount of $15 for the cost of the tax title, plus any documentary stamps necessary to be affixed and recording fees. The successful purchaser (or assignee) shall pay the amounts to the person officially charged with the collection of delinquent taxes before delivery of the tax title to the clerk of court and upon payment the person officially charged with the collection of delinquent taxes shall then be responsible for promptly transmitting the tax title to the clerk of court for recording and remitting the recording fee and documentary stamps cost therewith.
(B) In case the tax sale of an item produced an overage in cash above the full amount due in taxes, penalties and costs, the overage shall belong to the defaulting taxpayer to be claimed or assigned according to law. However, if neither claimed nor assigned within five years of date of public auction tax sale, the overage shall escheat to the general fund of the Council. Prior to the escheat date, unclaimed overages shall be kept in a separate account and shall be invested so as not to be idle and the County Council of the political subdivision shall be entitled to the earnings for keeping the overage, the earnings to be settled quarterly. On escheat date, the overage shall be transferred to the general fund of the Council.
(‘77 Code, § 8-52) (Ord. 107, passed 3-15-82)
Statutory reference:
Similar provisions, S.C. Code § 12-51-130