Hawaii Revised Statutes 527-2 – Definitions
Terms Used In Hawaii Revised Statutes 527-2
- 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.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Hawaii Revised Statutes 527-2
- Property: means an interest in real property located in this State that is transferable on the death of the owner. See Hawaii Revised Statutes 527-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- Transfer on death deed: means a deed authorized under this chapter. See Hawaii Revised Statutes 527-2
As used in this chapter:
“Beneficiary” means a person that receives property under a transfer on death deed.
“Designated beneficiary” means a person designated in a transfer on death deed to receive property.
“Joint owner” means an individual who owns property concurrently with one or more individuals with a right of survivorship. The term includes a joint tenant and a tenant by the entirety but does not include a tenant in common.
“Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.
“Property” means an interest in real property located in this State that is transferable on the death of the owner.
“Subject property” means real property or an interest in real property that is subject to a transfer on death deed.
“Transfer on death deed” means a deed authorized under this chapter.
“Transferor” means an individual who executes a transfer on death deed.