South Carolina Code 27-50-70. Listing agent to notify owner of disclosure obligations; liability for refusal or inaccuracy of disclosure statement
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(A) A listing agent or any real estate licensee operating for any party in a residential real estate transaction must inform in writing each owner covered by the listing agreement of the owner’s obligations prescribed in this article. If the listing agent performs this duty, he is not liable for the owner’s refusal or failure to provide a prospective purchaser with a disclosure statement.
(B) This article does not conflict with or alter the duties of the real estate licensee pursuant to the regulations of the commission. The real estate licensee, whether acting as the listing agent or selling agent, is not liable to a purchaser if:
Terms Used In South Carolina Code 27-50-70
- Commission: means the South Carolina Real Estate Commission. See South Carolina Code 27-50-10
- Disclosure statement: means a residential property condition disclosure statement written on a form as required by this article and as promulgated by regulations of the commission. See South Carolina Code 27-50-10
- 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 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) the owner provides the purchaser with a disclosure form that contains false, incomplete, or misleading information; and
(2) the real estate licensee did not know or have reasonable cause to suspect the information was false, incomplete, or misleading.