§ 27-32-370 — Relation of article to other foreclosure proceedings; right of action preserved; severability; managing entity to release address of timeshare owner.

South Carolina § 27-32-370

• Jurisdiction: South Carolina
• Title 27: PROPERTY AND CONVEYANCES
• Ch. 32: VACATION TIME SHARING PLANS

Text

(A) The procedures set forth in this article do not impair or otherwise affect the continuing right to bring a judicial action to foreclose a mortgage lien or claim of lien which has not been satisfied by a sale conducted pursuant to Section 27-32-345. (B) Nothing in this article shall be construed to impair the right of any person to assert his or her legal and equitable rights in a court of competent jurisdiction; however, no such action may be pursued to set aside a sale or void a trustee's deed subsequent to the recordation of the trustee's deed. (C) The procedures in this article must be given effect in the context of any reference to judicial foreclosure proceedings or procedures set forth in this chapter. (D) If any provision of this article or the application thereof to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this article which can be given effect without the invalid provision or application. To this end, the provisions of this article are declared severable. (E) Notwithstanding anything to the contrary, a managing entity must release the address of the owner of a timeshare estate to a lienholder who can demonstrate that the timeshare estate is subject to an assessment lien or a mortgage lien held by the lienholder. This information may be used by the lienholder solely for purposes of complying with the foreclosure procedures described in this article.

Legislative History

HISTORY: 2000 Act No. 262, SECTION 1. ARTICLE 4 Time Sharing Transaction Procedures