The bill S. 848 aims to amend the South Carolina Code of Laws by adding Section 12-37-160, which stipulates that any taxation, prohibition, restriction, fee imposition, or regulation concerning the use, disposition, or sale of a co-owned home must be enacted by the General Assembly. This new provision emphasizes the state's public policy favoring the transferability of property interests without unreasonable restraints and acknowledges the public concern regarding property ownership. The bill defines a "co-owned home" as a residential dwelling jointly owned by individuals or entities for their use and enjoyment.

Furthermore, the bill clarifies that it supersedes any municipal ordinances that attempt to regulate co-owned homes, while still allowing counties to maintain regulatory authority. Municipalities retain the ability to regulate the rental of co-owned homes, provided such regulations do not infringe on the owners' use or their guests' enjoyment of the property, as long as no fees are charged to guests. Additionally, municipalities can enforce land use regulations that apply equally to all residential dwellings, including co-owned homes, without treating them as commercial properties. The act will take effect upon the Governor's approval.

Statutes affected:
01/28/2026: 12-37-160
Latest Version: 12-37-160