Hawaii Revised Statutes 514B-37 – Common interest
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 514B-37
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Common interest: means the percentage of undivided interest in the common elements appurtenant to each unit, as expressed in the declaration, and any specified percentage of the common interest means such percentage of the undivided interests in the aggregate. See Hawaii Revised Statutes 514B-3
- Declaration: means any instrument, however denominated, that creates a condominium, including any amendments to the instrument. See Hawaii Revised Statutes 514B-3
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Unit: means a physical or spatial portion of the condominium designated for separate ownership or occupancy, the boundaries of which are described in the declaration or pursuant to § 514B-35, with an exit to a public road or to a common element leading to a public road. See Hawaii Revised Statutes 514B-3
Each unit shall have the common interest it is assigned in the declaration. Except as provided in sections 514B-32(a)(12), 514B-46, and 514B-140(d) and except as provided in the declaration, a unit’s common interest shall be permanent and remain undivided, and may not be altered or partitioned without the consent of the owner of the unit and the owner’s mortgagee, expressed in a duly executed and recorded declaration amendment. The common interest shall not be separated from the unit to which it appertains, and shall be deemed to be conveyed or encumbered with the unit even if the common interest is not expressly mentioned or described in the conveyance or other instrument.