If the successful bidder fails to remit in legal tender within the time specified, the person officially charged with the collection of delinquent taxes shall cancel that bid and duly readvertise the same property for sale, in the same manner, on a subsequent delinquent tax sale date. The defaulting bidder is liable for no more than five hundred dollars damages upon default, which may be collected by suit by the person officially charged with the collection of delinquent taxes in the name of the taxing authority.
HISTORY: 1962 Code Section 65-2815.6; 1971 (57) 499; 1985 Act No. 166, Section 7; 2012 Act No. 186, Section 4, eff June 7, 2012.
Structure South Carolina Code of Laws
Chapter 51 - Alternate Procedure For Collection Of Property Taxes
Section 12-51-60. Payment by successful bidder; receipt; disposition of proceeds.
Section 12-51-70. Default by successful bidder; readvertisement of property.
Section 12-51-80. Settlement by treasurer.
Section 12-51-90. Redemption of real property; assignment of purchaser's interest.
Section 12-51-95. Owner of mobile or manufactured home may redeem property.
Section 12-51-96. Conditions of redemption.
Section 12-51-120. Notice of approaching end of redemption period.
Section 12-51-130. Execution and delivery of tax title; costs and fees; overages.
Section 12-51-135. Removal of erroneously issued warrants.
Section 12-51-140. Notice to mortgagees.
Section 12-51-150. Official may void tax sales.
Section 12-51-160. Deed as evidence of good title; statute of limitations.
Section 12-51-170. Contract with county for collection of taxes due municipality.