South Carolina Laws
Requirement to Record: Not legally required to be recorded but must be recorded to provide notice.[1]
Expiration: Under state law, constructive notice doesn’t expire over time.
Maximum Term: State law does not set a maximum term for a lease with an option to purchase.
No Duration: If the lease doesn’t specify a duration for the option to purchase, it will expire at the end of the lease.
Signing Requirements: Must be in writing and signed by the seller.[2]
Required Disclosures (3)
1. Agent/Landlord Information – Landlords must disclose to tenants the names and addresses of anyone authorized to manage the property.[3]
2. Lead-Based Paint Disclosure & EPA Pamphlet – If the property was built before 1978, its landlord must disclose to potential tenants that the walls and ceiling could contain lead-based paint.
3. Unequal Deposits – If a landlord manages more than four adjoining units, then the rationale for charging their tenants different security deposits — if this is the case — must be explained in writing to all tenants.[4]
Seller’s Disclosures (1)
1. Property Condition Disclosure Statement (required) – All property sellers must provide this condition report to buyers prior to completing a residential real estate agreement. This document details the seller’s current knowledge of the material condition of the property.[5]