South Carolina Code 27-50-60. Corrected disclosure statements; reasonable repairs before closing
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 27-50-60
- 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
- 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
- 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
If the owner discovers, after his delivery of a disclosure statement to a purchaser, a material inaccuracy in the disclosure statement or the disclosure is rendered inaccurate in a material way by the occurrence of some event or circumstance, the owner shall correct promptly the inaccuracy by delivering a corrected disclosure statement to the purchaser or make reasonable repairs necessitated by the occurrence before closing.