A South Carolina Notice of Pledge of Real Estate is a legal document used to place a lien on a real estate property in South Carolina. The document is used to secure repayment of a loan or other debt owed by the owner of the property. The Notice of Pledge of Real Estate is filed with the South Carolina Secretary of State's office and recorded in the county recorder of deeds office in the jurisdiction where the property is located. There are two types of South Carolina Notice of Pledge of Real Estate: the traditional Notice of Pledge of Real Estate and the Construction Lien Notice of Pledge of Real Estate. The traditional Notice of Pledge of Real Estate is used to place a lien on a property for money owed from a loan or other debt. The Construction Lien Notice of Pledge of Real Estate is used to secure repayment of a debt or other costs related to the construction of a property.
South Carolina Notice of Pledge of Real Estate
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FAQ
A typical ?race-notice? statute will read something like this: ?No conveyance is valid against a subsequent bona-fide purchaser who has no notice of the original conveyance and who has recorded the deed to his conveyance first.?
All deeds, conveyances, and instruments that are required by law to be recorded, are valid so as to affect the rights of subsequent creditors or purchasers for valuable consideration without notice, only from the time they are recorded in the proper county.
Race statutes are extremely rare because it is generally viewed as unfair to protect a party who had actual notice of a prior conveyance. Currently, Delaware, North Carolina, and Louisiana are the only jurisdictions where a race statute is in effect.
Race ? whoever records first will prevail. Notice ? a subsequent bona fide purchaser who lacks notice of an earlier interest will prevail. Race-notice ? a subsequent bona fide purchaser who lacks notice of an earlier interest AND records first will prevail.
South Carolina is a race-notice jurisdiction. In 1958 the recording statute was amended to require a subsequent lien creditor without notice to file the instrument evidencing his lien in order to claim under the statute.
SECTION 12-24-70. Affidavits. (A)(1) The clerk of court or register of deeds shall require an affidavit showing the value of the realty to be filed with a deed. The affidavit required by this section must be signed by a responsible person connected with the transaction, and the affidavit must state that connection.