Unpaid assessments; payment upon sale
Known as the Horizontal Property Act
The act spans §§ 27–27 (34 sections).
Applied in 1 court decision — leading case Council of Co-Owners of Forest Beach Villas Horizontal Property Regime v. Smith (1994)
Most recently applied in Council of Co-Owners of Forest Beach Villas Horizontal Property Regime v. Smith (March 1994)
1962 Code SECTION 57-513; 1962 (52) 1866; 1967 (55) 449.
Upon the sale or conveyance of an apartment, all unpaid assessments against a co-owner for his pro rata share in the expenses to which SECTION 27-31-190 refers shall first be paid out of the sales price or by the acquirer in preference over any other assessments or charges of whatever nature except the following:
(a) Assessments, liens and charges for taxes past due and unpaid on the apartment; and
(b) Payments due under mortgage instruments or encumbrances duly recorded.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.