Hawaii Revised Statutes 467-22 – Subrogation of rights
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Terms Used In Hawaii Revised Statutes 467-22
- Commission: means the real estate commission of the State. See Hawaii Revised Statutes 467-1
- Real estate: means and includes lands, the improvements thereon, leaseholds, and all other interests in real property. See Hawaii Revised Statutes 467-1
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
When, upon the order of the court, or upon the commission‘s settlement of a claim, the real estate commission has paid from the real estate recovery fund any sum to the judgment creditor, the commission shall be subrogated to all of the rights of the judgment creditor and the judgment creditor shall assign all the creditor’s right, title, and interest in the judgment or settlement to the commission and any amount and interest so recovered by the commission on the judgment or settlement shall be deposited to the fund.