Terms Used In Hawaii Revised Statutes 514E-19

• Blanket lien: means any mortgage, deed of trust, option to purchase, master lease, vendor's lien or interest under a contract or agreement of sale, or any other lien or encumbrance that (i) affects more than one time share interest either directly or by reason of affecting an entire time share unit or the property upon which the time share unit to be used by the purchasers is located, and (ii) secures or evidences the obligation to pay money or to sell or convey the property and that authorizes, permits, or requires the foreclosure and sale or other defeasance of the property affected; provided that for the purpose of this chapter, the following shall not be considered blanket liens:

  (1) The lien of current real property taxes;

  (2) Taxes and assessments levied by public authority and that are not yet due and payable;

  (3) A lien for common expenses under chapter 514B or a lien on an individual time share unit for similar expenses in favor of a homeowners or community association;

  (4) An apartment lease or condominium conveyance document conveying or demising a single condominium unit or a lease of a single cooperative apartment; and

  (5) Any lien for costs or trustee's fees charged by a trustee holding title to time share units pursuant to a trust created under § 514E-19; provided that the costs or trustee's fees are not yet due and payable. See Hawaii Revised Statutes 514E-1

• Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 514E-1
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Nondisturbance agreement: means an instrument by which the holder of a blanket lien agrees that its rights in the property shall be subordinate to the rights of owners. See Hawaii Revised Statutes 514E-1
• Notice of time share plan: means an instrument executed by the holder of the legal and equitable title to the fee or long-term leasehold interest in a time share unit, and which provides notice of the existence of the time share plan and of rights of owners. See Hawaii Revised Statutes 514E-1
• Person: includes an individual, partnership, joint venture, corporation, association, business, trust, or any organized group of persons or legal entities, or any combination thereof. See Hawaii Revised Statutes 514E-1
• Purchaser: means any person who has contracted to acquire a time share interest. See Hawaii Revised Statutes 514E-1
• Time share interest: means any interest in a time share unit or plan which entitles the owner or holder thereof to the use, occupancy or possession of a time share unit on a periodically recurring basis. See Hawaii Revised Statutes 514E-1
• Time share ownership plan: means any arrangement whether by tenancy in common, sale, deed or by other means, whereby the purchaser receives an ownership interest and the right to use the property for a specific or discernible period by temporal division. See Hawaii Revised Statutes 514E-1
• Time share plan: means any plan or program in which the use, occupancy, or possession of one or more time share units circulates among various persons for less than a sixty-day period in any year, for any occupant. See Hawaii Revised Statutes 514E-1
• Time share unit: means the actual and promised accommodations, and related facilities, which are the subject of a time share plan. See Hawaii Revised Statutes 514E-1
• Time share use plan: means any arrangement, excluding normal hotel operations, whether by membership agreement, lease, rental agreement, license, use agreement, security or other means, whereby the purchaser receives a right to use accommodations or facilities, or both, in a time share unit for a specific or discernible period by temporal division, but does not receive an ownership interest. See Hawaii Revised Statutes 514E-1
• Trustee: A person or institution holding and administering property in trust.