Hawaii Revised Statutes 514B-46 – Merger of projects or increments
Terms Used In Hawaii Revised Statutes 514B-46
- Association: means the unit owners' association organized under section 514B-102 or under prior condominium property regime statutes. See Hawaii Revised Statutes 514B-3
- Common elements: means :
(1) All portions of a condominium other than the units; and
(2) Any other interests in real estate for the benefit of unit owners that are subject to the declaration. See Hawaii Revised Statutes 514B-3
- Common expenses: means expenditures made by, or financial liabilities of, the association for operation of the property, and shall include any allocations to reserves. See Hawaii Revised Statutes 514B-3
- 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
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Project: means a real estate condominium project; a plan or project whereby a condominium of two or more units located within the condominium property regime are created. See Hawaii Revised Statutes 514B-3
- recording: means to record in the bureau of conveyances in accordance with chapter 502, or to register in the land court in accordance with chapter 501. See Hawaii Revised Statutes 514B-3
- 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
The certificate of merger may provide for a single association and board for the merged projects and for a sharing of the common expenses of the projects among all the owners of the units in the merged projects. The certificate of merger may also provide for a merger of the common elements of the projects so that each unit owner in the merged projects has an undivided ownership interest in the common elements of the merged projects. In the event of a merger of common elements, the common interests of each unit in the merged projects shall be adjusted in accordance with the merger provisions in the projects’ declarations so that the total common interests of all units in the resulting merged project totals one hundred per cent. If the certificate of merger does not provide for a merger of the common elements, the common elements and common interests of the merged projects shall remain separate, but shall be subject to the provisions set forth in the respective declarations with respect to merger.