South Carolina Code 27-50-50. Delivery of and effect of failure to provide disclosure statement; responsibility of listing or selling agent
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(A) The owner of real property subject to this article shall deliver to the purchaser the disclosure form required by this article before a real estate contract is signed by the purchaser and owner, or as otherwise agreed in the real estate contract.
(B) Failure to provide the disclosure form required by this article to the purchaser does not:
Terms Used In South Carolina Code 27-50-50
- Commission: means the South Carolina Real Estate Commission. See South Carolina Code 27-50-10
- Contract: A legal written agreement that becomes binding when signed.
- Listing agent: means a real estate licensee who represents an owner of real property in the sale, lease, or other transfer of the subject real property through the use of a written listing agreement as required by law. See South Carolina Code 27-50-10
- Owner: means each person having a recorded present or future interest in real estate who is identified in a real estate contract subject to this article, but does not include the owner or holder of a mortgage, deed of trust, mechanic's or materialman's lien, or other lien or security interest in the real property. See South Carolina Code 27-50-10
- Purchaser: means each person or entity named as a purchaser, buyer, or tenant in a real estate contract subject to this article. See South Carolina Code 27-50-10
- Real estate contract: means a contract for the transfer of ownership of real property. See South Carolina Code 27-50-10
- Real estate licensee: means an individual licensed under Title 40, Chapter 57. See South Carolina Code 27-50-10
- Selling agent: means a real estate licensee who represents a purchaser of real property through the use of a written agency agreement as required by law, a real estate licensee who is a subagent as defined by law who represents the owner, or a dual agent as defined by law who represents both the purchaser and owner. See South Carolina Code 27-50-10
(1) void the agreement;
(2) create a defect in title; or
(3) present a valid reason to delay or otherwise interfere with the closing of a real estate transaction by a party including a closing attorney or lender.
(C) A real estate licensee acting as a listing agent or a selling agent is subject to the regulations governing his license and performance of his responsibilities as licensee, as provided by the commission. This article does not limit any other remedy available to the purchaser under law.