South Carolina Code of Regulations
Chapter 105 - DEPARTMENT OF LABOR, LICENSING AND REGULATION-- SOUTH CAROLINA REAL ESTATE COMMISSION
105-2 - Vacation Time Sharing Ownership Plans Defined.

Universal Citation: SC Code Regs 105-2

105-2. Vacation Time Sharing Ownership Plans Defined.

Vacation time sharing ownership plans shall specifically include:

A. time sharing ownership plans, whereby purchasers are deeded an undivided interest in the facilities with a right to use designated accommodations for a specific period of time during any given year, but not necessarily for consecutive years, which extends for a period of more than one (1) year; and

B. interval ownership plans, whereby purchasers are deeded title to designated time sharing units, accommodations, or facilities for a specific period of time during any given year, but not necessarily for consecutive years, which extends for a period of more than one (1) year, with remainder after such period to interval owners as tenants in common.

HISTORY: Added by State Register Volume 23, Issue No. 5, eff May 28, 1999. Amended by State Register Volume 41, Issue No. 5, Doc. No. 4724, eff May 26, 2017.

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