Hawaii Revised Statutes 667-23 – Recordation of notice of default and intention to foreclose
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Terms Used In Hawaii Revised Statutes 667-23
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgaged property: means the property that is subject to the lien of the mortgage. See Hawaii Revised Statutes 667-1
Before the deadline date in the notice of default and intention to foreclose, the notice shall be recorded in a recordable form in a manner similar to recordation of notices of pendency of action under section 501-151 or § 634-51, or both, as applicable. The recorded notice of default and intention to foreclose shall have the same effect as a notice of pendency of action. From and after the recordation of the notice of default and intention to foreclose, any person who becomes a purchaser or encumbrancer of the mortgaged property shall be deemed to have constructive notice of the power of sale foreclosure and shall be bound by the foreclosure.