South Carolina Timeshare Foreclosure and Right to Cancel Laws

Learn about South Carolina timeshare foreclosure laws, right to cancel laws, and other timeshare contract laws.

If you’ve purchased or are considering buying a timeshare in South Carolina—or are facing a timeshare foreclosure—it’s important to learn the answers to the following questions:

  • How do I cancel a timeshare purchase in South Carolina?
  • What disclosures are required in a timeshare purchase?
  • Are there any timeshare resale laws in South Carolina?
  • If I stop making payments, what is the most common type of timeshare foreclosure procedure (judicial or nonjudicial)?
  • Will I be liable for a deficiency judgment after a timeshare foreclosure?

Read on to find out some of the most important features of South Carolina’s timeshare laws.

Right to Cancel a Timeshare in South Carolina

In South Carolina, if you buy a timeshare, you can cancel the contract within five days from:

  • the date you sign the contract, not including Sunday if that is the fifth day, or
  • the date you receive the disclosure agreement, whichever is later. (S.C. Code Ann. § 27-32-40).

South Carolina law also provides the right to cancel a timeshare contract if at any time the timeshare is no longer available as described in the contract and the resort is unable to provide you with a comparable accommodations. (S.C. Code Ann. § 27-32-40).

The right of cancellation can't be waived.

How to Cancel a South Carolina Timeshare Contract

If you want to cancel the purchase contract, you must notify the seller in writing by sending notice via certified mail, return receipt requested or another verifiable means. The notice of cancellation is considered given on the date postmarked so long as the notice is actually received by the seller. (S.C. Code Ann. § 27-32-40).

If you give notice in writing and transmit it other than by mail, the notice is considered given at the time of delivery at the seller's address as identified on the contract. (S.C. Code Ann. § 27-32-40). (To learn more about canceling a timeshare purchase, see How Do I Cancel a Timeshare Contract?)


If you cancel and have not received benefits pursuant to the contract, the seller of the timeshare must refund your payment within 20 days after it receives your notice of cancellation. If you received benefits pursuant to the contract, the seller must refund your money—less the benefits received—within 30 days. (S.C. Code Ann. § 27-32-60).

Disclosure Agreement and Public Offering Statement

In South Carolina, every purchaser must be given a comprehensive disclosure document that includes the material terms and conditions of the vacation timesharing plan. (S.C. Code Ann. § 27-32-405).

A timeshare seller must also provide to the prospective purchaser a written public offering statement regarding the purchaser's rights and obligations associated with the purchase of an interest in that vacation timesharing plan. The purchaser must receive the statement before signing a purchase contract and the statement must include, among other things:

  • the name and address of the seller
  • a brief description of the interest being offered in the vacation timesharing plan
  • the name of a person with the right to alter, amend, or add charges which the purchaser must pay (and the terms and conditions under which those charges may be imposed)
  • a description of provisions to protect the purchaser's interest from loss due to foreclosure on an underlying financial obligation of the vacation timesharing plan, and
  • a statement similar to the following: "You should purchase a timesharing interest as a vacation experience and for your personal use and enjoyment. You should not purchase a timesharing interest as an investment or for profit upon its rental or resale." (S.C. Code Ann. § 27-32-100).

South Carolina Timeshare Sale Laws

Timeshare salespeople are known for using hard-sell tactics and misrepresentations to get you to make a snap decision about buying a timeshare. South Carolina law makes it illegal for a timeshare seller to use fraud, misrepresentation, or to fail to disclose material facts in order to induce a timeshare sale. (S.C. Code Ann. § 27-32-110).

South Carolina timeshare law also prohibits a developer or salesperson from using false or misleading advertisements in order to sell timeshares. (S.C. Code Ann. § 27-32-190).

Timeshare Foreclosure Procedure

If you take out a loan to purchase an interest in a deeded timeshare and fail to make your timeshare mortgage payments—or keep up with the assessments—you will likely face foreclosure. (In addition to monthly mortgage payments, timeshare owners are ordinarily responsible for maintenance fees, special assessments, utilities, and taxes, collectively referred to as “assessments.” To learn more, see Can a Timeshare Be Foreclosed for Nonpayment of Fees or Assessments?)

In South Carolina, residential foreclosures are judicial, but state law provides for the nonjudicial foreclosure of mortgages and assessment liens when it comes to timeshare properties. (S.C. Code Ann. § 27-32-325).

Timeshare Deficiency Judgments

In a foreclosure, the total debt that the borrower owes sometimes exceeds the foreclosure sale price. The difference between the total debt and the sale price is called a deficiency. In some states, the lender may then get a personal judgment, called a deficiency judgment, against the borrower. Whether or not you’ll face a deficiency judgment after a timeshare foreclosure depends on state law.

In South Carolina, the borrower is not subject to a deficiency judgment after a nonjudicial timeshare foreclosure—even if the proceeds from the sale of the timeshare are insufficient to cover the debt. (S.C. Code Ann. § 27-32-320).

Talk to an Attorney

If you have questions about timeshare laws in South Carolina or want to learn about foreclosure, consider talking to a real estate attorney or a foreclosure attorney.

Talk to a Lawyer

Start here to find foreclosure lawyers near you.

How it Works

  1. Briefly tell us about your case
  2. Provide your contact information
  3. Choose attorneys to contact you

Talk to a Foreclosure attorney.

We've helped 75 clients find attorneys today.

How It Works

  1. Briefly tell us about your case
  2. Provide your contact information
  3. Choose attorneys to contact you