Upon receipt of a complete application for registration in proper form, including all standardized application forms, if any, prescribed by the director, the director shall issue a notice of filing to the applicant subject to § 484-20, and forthwith initiate an examination to determine that:

(1) The subdivider can convey or cause to be conveyed the interest in subdivided lands offered for disposition if the purchaser complies with the terms of the offer, and when appropriate, that release clauses, conveyances in trust, or other safeguards have been provided;
contract signature

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Terms Used In Hawaii Revised Statutes 484-7

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
  • Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 484-1
  • Disposition: includes sale, lease, assignment, award by lottery, or any other transaction concerning a subdivision, if undertaken for gain or profit. See Hawaii Revised Statutes 484-1
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Offer: includes every inducement, solicitation, or attempt to encourage a person to acquire an interest in land, if undertaken for gain or profit. See Hawaii Revised Statutes 484-1
  • Public offering statement: means a statement that fully and accurately discloses the physical characteristics of the subdivided lands offered and all unusual or material circumstances or features affecting the subdivided lands. See Hawaii Revised Statutes 484-1
  • Purchaser: means a person who acquires or attempts to acquire or succeeds to an interest in land. See Hawaii Revised Statutes 484-1
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • subdivided lands: means any land which is divided or is proposed to be divided for the purpose of disposition into two or more lots, parcels, units, or interests and also includes any land whether contiguous or not if two or more lots, parcels, units, or interests are offered as a part of a common promotional plan of advertising and sale. See Hawaii Revised Statutes 484-1
  • Subdivider: means any owner of subdivided land who offers the land for disposition or the principal agent of an owner, who has been duly authorized in a writing filed with the director. See Hawaii Revised Statutes 484-1
(2) There is reasonable assurance that all proposed improvements will be completed as represented;
(3) The advertising material and the general promotional plan are not false or misleading and comply with the standards prescribed by the rules adopted by the director and afford full and fair disclosure;
(4) The subdivider has not, or if a corporation, its officers, directors, and principals have not, been convicted of a crime involving land dispositions or any aspect of the land sales business in this State, [the] United States, or any other state or foreign country within the past ten years and has not been subject to any injunction or administrative order within the past ten years restraining a false or misleading promotional plan involving land dispositions;
(5) The public offering statement requirements of this chapter and the rules have been satisfied;
(6) The purchaser has a seven-day period, after signing a contract to purchase subdivided lands from the subdivider, to rescind the contract at no penalty to the purchaser, and the subdivider has established a mechanism by which the purchaser will receive and sign a receipt for a written notice of such rescission right and the receipt will be deposited with the escrow agent; and
(7) Preliminary or final subdivision approval has been granted by the county in which the land is situated.

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