Download South Carolina Memorandum of Contract Legal Forms

A Memorandum of Contract acts as a public notice of a land contract, contract for deed, or other buy-sell purchase agreement affecting real estate, without revealing all the contract terms. This document ensures that the essential details of the agreement are on record while maintaining confidentiality of the complete terms. A recorded Memorandum of Contract, can secure the parties interests in the subject property and provide notice to potential buyers or creditors, safeguarding against any future disputes regarding the property's title.

In South Carolina, the recording of such documents is governed by the South Carolina Code of Laws, Title 30 - Public Records, Chapter 5
Recording Generally. Although the statutes do not specifically mention a "Memorandum of Contract," they outline the requirements for recording any documents that impact the title to real property. These guidelines help protect the interests of all parties involved by ensuring transparency and proper documentation in real estate transactions.

Relevant Statutes
Title 30 - Public Records
Chapter 5 - Recording Generally
Section 30-5-30. Requirements for recording of instruments.
This section outlines the general requirements for recording any instrument affecting real estate.
Text: No deed, contract, or other instrument in writing required by law to be recorded shall be recorded unless it has been executed in the presence of, and subscribed by, two or more credible witnesses, or acknowledged by the grantor, or proved in accordance with the provisions of law.

Section 30-5-35. Indexing of real property instruments.
This section discusses the indexing of recorded instruments, which is essential for public notice.

Text: All instruments conveying an interest in real property or any interest therein shall be indexed in the grantor and grantee indexes in the office of the register of deeds or clerk of court in the county where the real property is located.

Section 30-5-40. Recording of documents affecting title to real property.
This section specifies the types of documents that can be recorded.
Text: Any deed, contract, or other instrument in writing which conveys, encumbers, assigns, or affects title to real estate or any interest therein, and which is required by law to be recorded, shall be recorded in the office of the register of deeds or clerk of court in the county where the real estate is situated.