Whenever the lessee, sole owner, or co-owner of a building declares the undertaking of a conversion of rental units to condominium ownership through the recordation of a master deed or master lease, written disclosure shall be made within thirty days of the date of the recordation to all prospective purchasers, including tenants in possession, as to the physical condition of the building. The disclosure shall contain a written report prepared by an independent registered architect or engineer licensed to practice his profession in this State, describing the present condition of all general common elements. The report shall contain a good faith estimate of the remaining useful life to be expected for each item reported on, together with a list of any notices of uncured violations of building codes or other county or municipal regulations, together with the estimated cost of curing those violations. The good faith estimate of useful life shall not constitute a warranty and, as to an independent registered architect or engineer licensed to practice his profession in this State, shall not be deemed a representation of material fact or an inducement to purchase and shall not give rise to any cause of action at law or in equity against such architect or engineer. A failure to make the disclosure required by this section shall constitute a violation of the South Carolina Unfair Trade Practices Act.
HISTORY: 1983 Act No. 37, Section 2.
Structure South Carolina Code of Laws
Title 27 - Property and Conveyances
Chapter 31 - Horizontal Property Act
Section 27-31-10. Short title.
Section 27-31-20. Definitions.
Section 27-31-30. Establishment of horizontal property regime.
Section 27-31-40. Apartments may be purchased, owned, and the like.
Section 27-31-50. More than one person may own apartment.
Section 27-31-60. Property rights of apartment owner.
Section 27-31-70. Common elements shall not be divided.
Section 27-31-80. Use of common elements.
Section 27-31-90. Incorporation of co-owners.
Section 27-31-100. Master deed or lease; contents.
Section 27-31-110. Plot plan and building plan.
Section 27-31-120. Designation of apartments on plans; conveyance or lease of apartment.
Section 27-31-130. Waiver of regime and merger of apartment records with principal property.
Section 27-31-140. Merger as bar to subsequent horizontal property regime.
Section 27-31-150. Administration of property; bylaws.
Section 27-31-160. Provisions required in bylaws; modification of system of administration.
Section 27-31-170. Compliance with bylaws, rules, and regulations; remedy for noncompliance.
Section 27-31-180. Records of receipts and expenditures.
Section 27-31-190. Expenses shall be shared.
Section 27-31-200. Unpaid assessments; payment upon sale.
Section 27-31-220. Liability of purchaser of apartment.
Section 27-31-230. Liens arising subsequent to recording of master deed or lease.
Section 27-31-250. Repair or reconstruction; vote of co-owners; application of insurance proceeds.
Section 27-31-260. Sharing expenses in case of fire or other disaster.
Section 27-31-270. Assessment and collection of taxes.
Section 27-31-280. Council of co-owner's right of access.
Section 27-31-290. Limitation on liability of co-owners for common expenses.
Section 27-31-300. Effect on contracts entered into before June 6, 1967.
Section 27-31-410. "Conversion of rental units to condominium ownership" defined.
Section 27-31-430. Disclosure of physical condition of building.