Kevin and Linda are co-owners of a residential duplex in Rock Hill, South Carolina. Kevin wants to sell his ownership interest to Linda so she will become the sole owner. Kevin's real estate agent advises him that the Property Condition Disclosure Statement must be completed and delivered to Linda before the transfer. Is the agent's advice correct under the SC Residential Property Condition Disclosure Act?
Correct Answer
C) No, the agent is wrong — transfers between co-owners are exempt from the disclosure requirement
Under S.C. Code Ann. § 27-50-30, transfers between co-owners are explicitly exempt from the SC Residential Property Condition Disclosure Act. Kevin and Linda are co-owners of the property, and Kevin's transfer of his interest to Linda falls within this statutory exemption. The agent's advice is incorrect — no disclosure statement is required for this transaction.
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Related Topics & Key Terms
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