S.C. Code Regs. § § 105-2

Current through Register Vol. 48, No. 11, November 22, 2024

Section 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.

S.C. Code Regs. § 105-2

Added by State Register Volume 23, Issue No. 5, eff May 28, 1999; State Register Volume 41, Issue No. 05, eff. 5/26/2017.