South Carolina General Assembly
119th Session, 2011-2012

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Indicates Matter Stricken
Indicates New Matter

H. 3231

STATUS INFORMATION

General Bill
Sponsors: Rep. Herbkersman
Document Path: l:\council\bills\agm\18266ab11.docx

Introduced in the House on January 11, 2011
Currently residing in the House Committee on Judiciary

Summary: Foreclosure

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/14/2010  House   Prefiled
  12/14/2010  House   Referred to Committee on Judiciary
   1/11/2011  House   Introduced and read first time (House Journal-page 93)
   1/11/2011  House   Referred to Committee on Judiciary 
                        (House Journal-page 93)

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

12/14/2010

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 27-33-60 SO AS TO PROVIDE THAT A PREEXISTING RENTAL AGREEMENT DOES NOT TERMINATE UPON THE SUBSEQUENT FORECLOSURE OF THE LANDLORD'S MORTGAGE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Chapter 33, Title 27 of the 1976 Code is amended by adding:

"Section 27-33-60.    Notwithstanding another provision of law, the foreclosure of a landlord's mortgage does not, through the operation of law, terminate a preexisting rental agreement with respect to the property that is the subject of the foreclosure action. A successor in interest to a property pursuant to a foreclosure action shall assume that property interest subject to the rental agreement. After a foreclosure, a rental agreement pertaining to:

(1)    residential property remains in effect between the tenant and the successor in interest to the foreclosed property for the lesser of twelve months or until the agreement expires in accordance with its terms or is terminated due to the occurrence of a condition specified in the agreement; or

(2)    commercial property remains in effect between the tenant and the successor in interest to the foreclosed property for the lesser of twenty-four months or until the agreement expires in accordance with its terms or is terminated due to the occurrence of a condition specified in the agreement."

SECTION    2.    This act takes effect upon approval by the Governor.

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