South Carolina Code 29-5-21. Services of surveyor and real estate licensee as improving real estate; real estate licensee’s liens
(B)(1) A real estate licensee who, by virtue of a written agreement with the owner, performs professional services for which he is licensed under Title 40 incident to marketing, developing, or improving commercial real estate preparatory to or as a part of a commercial real estate lease or rental transaction involving the commercial real estate, has furnished labor or material for the improvement of commercial real estate within the meaning of § 29-5-20.
Terms Used In South Carolina Code 29-5-21
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
(2) A real estate licensee shall not acquire a lien under this subsection unless:
(a) the owner of the commercial real estate or the owner’s authorized agent authorizes the real estate licensee, under the terms of a written agreement, to lease an interest in the commercial real estate; and
(b) the real estate licensee or the real estate licensee’s affiliated licensees provide licensed services that result, during the term of a written agreement described in item (1) of this subsection, in the procuring of a person or entity that rents or leases the commercial real estate or rents or leases an interest in the commercial real estate upon terms contained in a written agreement described in item (1) of this subsection.
(3) A real estate licensee shall not acquire a lien under this subsection upon residential real estate.
(4) Prior recorded liens shall have priority over a real estate licensee’s lien. A prior recorded lien shall include, without limitation:
(i) a valid mechanic’s lien claim that is recorded subsequent to the real estate licensee’s lien notice of lien but which relates back to a date prior to the recording date of the real estate licensee’s lien notice of lien; and
(ii) prior recorded liens securing revolving credit and future advance of construction loans as described in § 29-3-50.