Terms Used In Hawaii Revised Statutes > Chapter 668A - Uniform Partition of Heirs Property Act

• 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.
• Appraisal: A determination of property value.
• articles: includes amended and restated articles of incorporation, and articles of merger. See Hawaii Revised Statutes 414D-14
• Ascendant: means an individual who precedes another individual in lineage, in the direct line of ascent from the other individual. See Hawaii Revised Statutes 668A-2
• board of directors: means the board of directors of a corporation except that no person or group of persons are the board of directors because of powers delegated to that person or group pursuant to § 414D-131. See Hawaii Revised Statutes 414D-14
• Bylaws: means the code or codes of rules (other than the articles) adopted pursuant to this chapter for the regulation or management of the affairs of the corporation irrespective of the name or names by which the rules are designated. See Hawaii Revised Statutes 414D-14
• Class: refers to a group of memberships which have the same rights with respect to voting, dissolution, redemption, and transfer. See Hawaii Revised Statutes 414D-14
• Collateral: means an individual who is related to another individual under the law of intestate succession of this State, but who is not the other individual's ascendant or descendant. See Hawaii Revised Statutes 668A-2
• Corporation: means a nonprofit corporation unless otherwise specified. See Hawaii Revised Statutes 414D-14
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Delegates: means those persons elected or appointed to vote in a representative assembly for the election of a director or directors or on other matters. See Hawaii Revised Statutes 414D-14
• Deliver: includes mail. See Hawaii Revised Statutes 414D-14
• Descendant: means an individual who follows another individual in lineage, in the direct line of descent from the other individual. See Hawaii Revised Statutes 668A-2
• Determination of value: means an order of a court determining the fair market value of heirs property under § 668A-7 or 668A-11 or adopting the valuation of the property agreed to by all cotenants. See Hawaii Revised Statutes 668A-2
• Directors: means individuals, designated in the articles or bylaws or elected by the incorporators, and their successors and individuals elected or appointed by any other name or title, to act as members of the board. See Hawaii Revised Statutes 414D-14
• Electronic transmission: means any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved, and reviewed by a recipient thereof, and that may be directly reproduced in paper form by such a recipient through an automated process. See Hawaii Revised Statutes 414D-14
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Heirs property: means real property held in tenancy in common that satisfies all the following requirements as of the filing of an action for partition:

  (1) There is no agreement in a record binding all the cotenants that governs the partition of the property;

  (2) One or more of the cotenants acquired title from a relative, whether living or deceased; and

  (3) Any of the following applies:

  (A) Twenty per cent or more of the interests are held by cotenants who are relatives;

  (B) Twenty per cent or more of the interests are held by an individual who acquired title from a relative, whether living or deceased; or

  (C) Twenty per cent or more of the cotenants are relatives. See Hawaii Revised Statutes 668A-2

• Intestate: Dying without leaving a will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means (without regard to what a person is called in the articles or bylaws) any person or persons having the rights and obligations of membership pursuant to a corporation's articles of incorporation or bylaws. See Hawaii Revised Statutes 414D-14
• Membership: refers to the rights and obligations a member or members have pursuant to a corporation's articles, bylaws, and this chapter. See Hawaii Revised Statutes 414D-14
• Partition by sale: means a court-ordered sale of the entire heirs property, whether by auction, sealed bids, or open-market sale conducted under section 668A-11. See Hawaii Revised Statutes 668A-2
• Partition in kind: means the division of heirs property into physically distinct and separately titled parcels. See Hawaii Revised Statutes 668A-2
• Person: includes any individual or entity. See Hawaii Revised Statutes 414D-14
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Principal office: means the office (in or out of the State) so designated in the annual report where the principal offices of a domestic or foreign corporation are located. See Hawaii Revised Statutes 414D-14
• Proceeding: includes civil suit and criminal, administrative, and investigatory action. See Hawaii Revised Statutes 414D-14
• Public benefit corporation: means any corporation designated by statute as a public benefit corporation, or any corporation that is recognized as exempt under section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or that is organized for public or charitable purposes and upon dissolution must distribute its assets to a public benefit corporation, the United States, a state, or a person recognized as exempt under section 501(c)(3) of the Internal Revenue Code of 1986, as amended. See Hawaii Revised Statutes 414D-14
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Hawaii Revised Statutes 668A-2
• Record date: means the date established under part VI or part VII on which a corporation determines the identity of its members for the purposes of this chapter. See Hawaii Revised Statutes 414D-14
• Relative: means an ascendant, descendant, or collateral or an individual otherwise related to another individual by blood, marriage, adoption, or law of this State other than this chapter. See Hawaii Revised Statutes 668A-2
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
• Summons: Another word for subpoena used by the criminal justice system.
• Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
• Vote: includes authorization by ballot and written consent. See Hawaii Revised Statutes 414D-14
• Voting power: means the total number of votes entitled to be cast for the election of directors at the time the determination of voting power is made, excluding a vote which is contingent upon the happening of a condition or event that has not occurred at the time. See Hawaii Revised Statutes 414D-14