Contracts
In South Carolina, what is a 'land use restriction agreement' (LURA)?
AA standard zoning agreement
BA recorded agreement restricting the use of property, often tied to affordable housing tax credit projects or conservation easements✓ Correct
CA neighborhood association rule
DA deed restriction created by a homebuilder
Explanation
A LURA is a recorded agreement that restricts property use, commonly used in Low Income Housing Tax Credit (LIHTC) projects to enforce affordability requirements for a specific period. It runs with the land and binds all future owners.
Related South Carolina Contracts Questions
- In South Carolina, a counteroffer legally:
- A South Carolina buyer submits an offer with a 48-hour acceptance deadline. If the seller does not respond within 48 hours, the offer:
- In South Carolina, a 'right of first refusal' in a real estate contract gives the holder:
- In South Carolina, what happens to the earnest money if the seller defaults on a purchase contract?
- What is an 'option contract' in South Carolina real estate?
- A South Carolina lease that runs for a definite period (e.g., one year) is called:
- In South Carolina, which of the following must be in writing to be enforceable under the Statute of Frauds?
- Under South Carolina's Statute of Frauds, which of the following can be enforced despite being verbal?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →