2016 South Carolina Code of Laws
Title 15 - Civil Remedies and Procedures
CHAPTER 61 - PARTITION
Section 15-61-410. Report of broker appointed to offer heirs' property for open-market sale.

Section effective January 1, 2017.

(A) Unless required otherwise to do so within a shorter time, a broker appointed under Section 15-61-400, to offer heirs' property for open-market sale shall file a report with the court not later than ten days after receiving an offer to purchase the property for at least the value determined pursuant to Section 15-61-360 or 15-61-400.

(B) The report required by subsection (A) must contain the following information:

(1) a description of the property to be sold to each buyer;

(2) the name of each buyer;

(3) the proposed purchase price;

(4) the terms and conditions of the proposed sale, including the terms of any owner financing;

(5) the amounts to be paid to lienholders;

(6) a statement of contractual or other arrangements or conditions of the broker's commission; and

(7) other material facts relevant to the sale.

HISTORY: 2016 Act No. 153 (H.3325), Section 1, eff January 1, 2017.

Editor's Note

2016 Act No. 153, Section 6, provides as follows:

"SECTION 6. This act takes effect on January 1, 2017, and applies to partition actions filed on or after that date."