(A) The trustee‘s deed must include the name and address of the trustee, the name and address of the buyer, the name of the obligor, including the owner of the timeshare estate on the date of the recordation of the notice of sale, and the name and address of the preparer of the trustee’s deed. The trustee’s deed must recite that the certificate of compliance was recorded after the regular conduct of a sale, and shall contain no warranties of title from the trustee.

(B) Upon the recording of the trustee’s deed, the certificate of compliance and trustee’s deed together are conclusive evidence of the truth of the matters set forth therein.

contract signature

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Terms Used In South Carolina Code 27-32-365

  • Claim of lien: means a claim of a recorded assessment lien. See South Carolina Code 27-32-310
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Lienholder: means a holder of an assessment lien or a holder of a mortgage lien, as applicable. See South Carolina Code 27-32-310
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligor: means either the mortgagor, the person obligated under a claim of lien, or the record owner of the timeshare estate as the context requires. See South Carolina Code 27-32-310
  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: means any person entitled to exercise a power of sale. See South Carolina Code 27-32-310

(C) The trustee’s deed conveys to the purchaser all right, title, and interest in the timeshare estate that the obligor had, or had the power to convey, at the time of the execution of the mortgage or recording of the claim of lien together with all right, title, and interest in the owner or his successors in interest acquired after the execution of the mortgage or recording of the claim of lien.

(D) If an action is filed based on any claim that the trustee failed to follow the procedures in this article or that the sale was otherwise improper, it is presumed that the trustee was acting solely as the agent of the lienholder, and any liability resulting therefrom is the sole responsibility of the lienholder, mortgagee or managing entity and not the trustee.

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