(a) Except as otherwise provided in this part, an owner of a leasehold time share interest may convey, mortgage, sublease, charge, or otherwise deal with the same as if the condominium to which it pertains was established on unregistered land. The owner may use forms of assignments, mortgages, or other voluntary instruments like those now in use and sufficient in law for the purpose intended.
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Terms Used In Hawaii Revised Statutes 501-247

  • Contract: A legal written agreement that becomes binding when signed.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Leasehold time share interest: means a time share interest consisting of an undivided interest in an apartment lease. See Hawaii Revised Statutes 501-20
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • recording: means to make an entire literal copy of all instruments required to be recorded. See Hawaii Revised Statutes 501-20
  • Time share interest: means a time share interest as that term is defined in chapter 514E. See Hawaii Revised Statutes 501-20
(b) Notwithstanding subsection (a) and section recording deeds, leases, etc” class=”unlinked-ref” datatype=”S” sessionyear=”2019″ statecd=”HI”>502-83, no assignment, mortgage, or other voluntary instrument (except a will, a lease for a term not exceeding one year, or an instrument required by this part to be registered in the land court and which is so registered) purporting to assign or affect a leasehold time share interest, shall take effect as a conveyance or bind the leasehold time share interest, but shall operate only as a contract between the parties, and as evidence of authority to the registrar or assistant registrar. The act of recordation pursuant to chapter 502 shall be the operative act to assign or affect the leasehold time share interest.

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