Laws on Judgments in South Carolina

Judgments are legal rulings that provide for monetary relief to the judgment creditor. Judgment laws, exemptions and time limitations vary by state. Laws in South Carolina state that judgments are automatic liens on real property that does not fall under the exemption category. Judgment creditors have several legal avenues available to them for judgment debt recovery.

Time Frame

Judgments in South Carolina have a 10-year window of enforcement. Individuals who own real property and have a judgment issued against them must pay off the judgment when selling or prior to refinancing the property. As of January 2011, South Carolina judgments carry a legal annual interest rate of 8.75 percent on all stated accounts. The judgment interest rate on entered and enrolled court-ordered decrees is 14 percent annually.

Execution

In South Carolina, execution is the method allowed by law to enforce the terms of a judgment. An execution is a separate filing with the Clerk of Court in the county where the judgment is issued that directs the Sheriff to seize real estate and personal property from the judgment debtor that is not exempt by state law. Upon seizing the non-exempt property, the Sheriff sells it at public auction and gives the proceeds to the judgment creditor to satisfy the judgment.

Exemptions

Each state provides for the amounts of personal and real property values that are exempt from judgment liens, levies or seizures. In South Carolina, a person's primary residence is exempt under the homestead exemption law, up to an aggregate value of $5,000. One motor vehicle, not to exceed a value of $1,200, is also exempt from a judgment creditor. Other exemptions include household goods and furnishings with an aggregate value not to exceed $2,500, jewelry with an aggregate value of no more than $500 and cash or liquid assets not to exceed $1,000.

Vehicle Accident Judgment Recovery

If a judgment is a result of a lawsuit arising from a motor vehicle accident, the judgment debtor -- the losing party -- has 60 days to satisfy the terms of the judgment. If the judgment is not satisfied in full within 60 days, South Carolina law allows for the suspension of the judgment debtor's driver's license and registration. The execution laws and procedures are still applicable in judgments resulting from vehicle accidents.