Article 1 Residential Property Condition Disclosure Statements
Article 2 The South Carolina Vacation Rental Act

Terms Used In South Carolina Code > Title 27 > Chapter 50

  • 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
  • property: as used in this Title , includes both real and personal property. See South Carolina Code 12-28-970
  • 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
  • Real property: means the lot or parcel and the dwelling unit described in a real estate contract subject to this article. See South Carolina Code 27-50-10
  • Rental management company: means a licensed property manager-in-charge or broker-in-charge and their associates and employees who manage vacation rentals. See South Carolina Code 27-50-230
  • Residential property: means an apartment, condominium, single family home, townhouse, cottage, or other property devoted to residential use or occupancy by one or more persons for a definite or indefinite period. See South Carolina Code 27-50-230
  • 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
  • Vacation rental: means the lease, sublease, or other rental of residential property for a period of fewer than ninety days, except that it does not include rental of residential property on a weekly or monthly basis pursuant to Chapter 40 of this title, the South Carolina Residential Landlord and Tenant Act. See South Carolina Code 27-50-230
  • Vacation rental agreement: means a written agreement between an owner or the owner's rental management company and a tenant, in which the tenant rents residential property belonging to the owner for a vacation rental. See South Carolina Code 27-50-230
  • Vacation rental management agreement: means a written agreement between an owner and the owner's rental management company, in which the rental management company manages residential property belonging to the owner for a vacation rental. See South Carolina Code 27-50-230