South Carolina Code of Regulations
Chapter 105 - DEPARTMENT OF LABOR, LICENSING AND REGULATION- SOUTH CAROLINA REAL ESTATE COMMISSION
Section 105-2 - Vacation Time Sharing Ownership Plans Defined
Current through Register Vol. 48, No. 3, March 22, 2024
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.