§ 62-7-1106 — Application to existing relationships.

South Carolina § 62-7-1106

• Jurisdiction: South Carolina
• Title 62: SOUTH CAROLINA PROBATE CODE
• Ch.: ARTICLE 7 - SOUTH CAROLINA TRUST CODE

Text

(a) Except as otherwise provided in this article, on the effective date of this article: (1) this article applies to all trusts created before, on, or after its effective date; (2) this article applies to all judicial proceedings concerning trusts commenced on or after its effective date; (3) this article applies to judicial proceedings concerning trusts commenced before its effective date unless the court finds that application of a particular provision of this article would substantially interfere with the effective conduct of the judicial proceedings or prejudice the rights of the parties, in which case the particular provision of this article does not apply and the superseded law applies; (4) subject to subsections (a)(5) and (b), any rule of construction or presumption provided in this article applies to trust instruments executed before the effective date of the article unless there is a clear indication of a contrary intent in the terms of the trust; and (5) an act done and any right acquired or accrued before the effective date of the article is not affected by this article. Unless otherwise provided in this article, any right in a trust accrues in accordance with the law in effect on the date of the creation of a trust. (b) If a right is acquired, extinguished, or barred upon the expiration of a prescribed period that has commenced to run under any other statute before the effective date of the article, that statute continues to apply to the right even if it has been repealed or superseded.

Legislative History

HISTORY: 2005 Act No. 66, SECTION 1; 2013 Act No. 100, SECTION 2, eff January 1, 2014.