(a) An apartment owner shall have the exclusive ownership of his apartment and shall have a common right to a share, with the other co-owners, in the common elements of the property, equivalent to the percentage representing the value of the individual apartment, with relation to the value of the whole property. This percentage shall be computed by taking as a basis the value of the individual apartment in relation to the value of the property as a whole.
The percentage shall be expressed at the time the horizontal property regime is constituted, shall have a permanent character, and shall not be altered without the acquiescence of the co-owners representing all the apartments of the property.
The basic value, which shall be fixed for the sole purpose of this chapter and irrespectively of the actual value, shall not prevent each co-owner from fixing a different circumstantial value to his apartment in all types of acts and contracts.
(b) The owner of any apartment embraced in the master deed and building plan shall have the right to require specific performance of any proposed common elements for recreational purposes set out in the master deed which are included in the next stage of the development that applies to recreational facilities in the event the additional stages of erection do not develop.
HISTORY: 1962 Code Section 57-499; 1962 (52) 1866; 1967 (55) 449; 1973 (58) 783.
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.