South Carolina Legislative Update: Bill Impacting HOAs and Condos Signed Into Law

/ Owner - May 19, 2018

A South Carolina bill we have been watching for more than a year was signed into law by the Governor yesterday, May 17, 2018. House Bill 3886 is the first SC bill specifically directed at homeowners associations and condominiums in South Carolina and will impact how each of these types of communities operates. Officially titled the “South Carolina Homeowners Association Act”. Here is a brief summary of some of the key parts of the new law: Disclosure Duty The law creates a new duty to disclose whether real property being sold is part of a homeowners association. Along with the duty to disclose things like the condition of floors, foundations, plumbing, electrical, and other components of the property, the law will now require property owners to disclose whether the property being sold is part of a homeowners association.      Read the article…………………

Comments are closed.