{"data":{"id":"us-sc/s.c.-code-ann.-27-32-305","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 27-32-305","heading":"Purpose.","body":"The purposes of this article are to:\n(1) recognize that timeshare estates are interests in real property used for vacation experience rather than for homestead purposes and that there are numerous timeshare estates in South Carolina;\n(2) recognize that the economic health and efficient operation of the vacation ownership industry are in part dependent upon the availability of an efficient and economical process for foreclosure;\n(3) recognize the need to assist vacation ownership resort owners' associations by simplifying and expediting the process of foreclosure of assessment liens and mortgage liens;\n(4) reduce court congestion and cost to taxpayers by establishing streamlined procedures for foreclosure of assessment liens and mortgage liens against timeshare estates;\n(5) establish those streamlined procedures by giving statutory recognition to the right of persons to privately contract for a power of sale as their remedy in lieu of a judicial foreclosure of liens on timeshare estates while specifically limiting the application of such nonjudicial foreclosure procedures to timeshare estates only.","path":["Title 27 - PROPERTY AND CONVEYANCES","CHAPTER 32 Vacation Time Sharing Plans","ARTICLE 3 Timeshare Lien Foreclosures"],"source_url":"https://www.scstatehouse.gov/code/t27c032.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T06:56:49Z","sha256":"fb0ac4f7b926af4ea684e9613f03a9f445ebea7d982a7acdc482228dd996a7f4","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-27-32-300","next":"us-sc/s.c.-code-ann.-27-32-310"},"notice":"GroundRules: Original legal text. Not legal advice."}