Property Ownership
In South Carolina, the SC Horizontal Property Act governs:
AAgricultural land in horizontal terrain
BCondominium ownership, establishing the rights and responsibilities of unit owners✓ Correct
CWaterfront property along rivers
DMobile home parks
Explanation
The SC Horizontal Property Act (also known as the Horizontal Property Regime Act) governs condominium ownership in South Carolina. It establishes rules for unit ownership, common elements, and the condominium association.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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