Property Ownership

In South Carolina, what is the 'doctrine of laches'?

AA doctrine that requires prompt recording of deeds
BAn equitable defense that bars a claim when a party delays unreasonably in asserting their rights, causing prejudice to the other party✓ Correct
CA doctrine requiring disclosure of all known defects
DA doctrine that gives priority to recorded instruments

Explanation

Laches is an equitable doctrine that bars a claim when a party has unreasonably delayed in asserting their legal rights and this delay has prejudiced the opposing party. Courts may refuse to grant relief to a party who 'sat on their rights' too long.

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