S.C. Code Ann. § 50-23-120 – Assignment and warranty of title; transferee or purchaser to obtain new certificate; delivery or retention of certificate by lienholder

(a) The owner at the time of delivery of the watercraft or outboard motor shall execute the assignment and warranty of title to the transferee in the space provided on the back of the certificate of title. In the event the title is voided, due to a change, cancellation of an assignment on a title due to error, or failure of a purchase to materialize the owner shall make application for a duplicate title within five days.
(b) The transferee or purchaser shall obtain a new certificate of title by application to the department accompanied by the required fee and upon the form or forms prescribed and furnished by the department. Such application for certificate of title shall be filed within twenty days after the delivery to him of the watercraft or outboard motor.
(c) Upon request of the owner or transferee, a lienholder in possession of the certificate of title shall, unless the transfer was a breach of his security agreement, either deliver the certificate to the transferee for delivery to the department, or mail or deliver it directly to the department. The delivery of the certificate does not affect the rights of the lienholder under his security agreement.
(d) If a lien or encumbrance is first created at the time of transfer of ownership, the certificate shall be retained by or delivered to the person who becomes the lienholder.