The board of appraisers as so constituted shall proceed to view and value the mortgaged property and all or a majority thereof shall make a sworn return within thirty days from their appointment of the true value of the property as of the date of sale, taking into consideration sale value, cost and replacement value of improvements, income production and all other proper elements which, in their discretion, enter into the determination of true value.
S.C. Code Ann. § 29-3-720
Appraisal of the mortgaged property
Applied in 1 court decision — leading case South Carolina National Bank v. S & L Investment Partnership (1992)
Most recently applied in South Carolina National Bank v. S & L Investment Partnership (July 1992)
1962 Code SECTION 45-92; 1952 Code SECTION 45-92; 1942 Code SECTION 8712; 1933 (38) 350.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.