Terms Used In Hawaii Revised Statutes > Chapter 514B > Part IV - Registration and Administration of Condominiums

• Affiliate of a developer: means a person that directly or indirectly controls, is controlled by, or is under common control with, the developer. See Hawaii Revised Statutes 514B-3
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means the unit owners' association organized under section 514B-102 or under prior condominium property regime statutes. See Hawaii Revised Statutes 514B-3
• Commission: means the real estate commission of the State. 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 law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Condominium: means real estate, portions of which are designated for separate ownership and the remainder of which is designated for common ownership solely by the owners of those portions. See Hawaii Revised Statutes 514B-3
• Condominium map: means , however denominated, a map or plan of the condominium property regime containing the information required by § 514B-33. See Hawaii Revised Statutes 514B-3
• Contract: A legal written agreement that becomes binding when signed.
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Declaration: means any instrument, however denominated, that creates a condominium, including any amendments to the instrument. See Hawaii Revised Statutes 514B-3
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Developer: means a person who undertakes to develop a real estate condominium project, including a person who succeeds to the interest of the developer by acquiring a controlling interest in the developer or in the project. See Hawaii Revised Statutes 514B-3
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Managing agent: means any person retained, as an independent contractor, for the purpose of managing the operation of the property. See Hawaii Revised Statutes 514B-3
• Material fact: means any fact, defect, or condition, past or present, that, to a reasonable person, would be expected to measurably affect the value of the project, unit, or property being offered or proposed to be offered for sale. See Hawaii Revised Statutes 514B-3
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: means an individual, firm, corporation, partnership, association, trust, or other legal entity, or any combination thereof. See Hawaii Revised Statutes 514B-3
• Pertinent change: means , as determined by the commission, a change not previously disclosed in the most recent public report that renders the information contained in the public report or in any disclosure statement inaccurate, including, but not limited to:

  (1) The size, construction materials, location, or permitted use of a unit or its appurtenant limited common element;

  (2) The size, use, location, or construction materials of the common elements of the project; or

  (3) The common interest appurtenant to the unit. See Hawaii Revised Statutes 514B-3

• 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
• Property: includes parcels with or without upper or lower boundaries, and spaces that may be filled with air or water. See Hawaii Revised Statutes 514B-3
• Testify: Answer questions in court.
• 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