Hawaii Revised Statutes 506-4 – Interests in recorded mortgages and leases
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Terms Used In Hawaii Revised Statutes 506-4
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
The mortgage shall operate only as a contract between the parties with respect to, and shall not create a lien upon, any recorded mortgage or lease, unless and until a specific reference to the mortgage or lease in the manner contemplated by § 502-33 is contained in an instrument or affidavit executed by the mortgagor or mortgagee and duly recorded in the bureau of conveyances at Honolulu.