Hawaii Revised Statutes 508D-10.5 – Energy-efficiency consumer information in sale or lease of real property
Current as of: 2024 | Check for updates
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Terms Used In Hawaii Revised Statutes 508D-10.5
- Declaration: means any recorded document, however denominated, in favor of or enforceable by a cooperative housing corporation, an association of owners of a condominium project, or other nonprofit, incorporated or unincorporated association, that restricts or conditions the use of the real property being offered for sale, or imposes obligations on the owner of the residential real property being offered for sale with respect to maintenance or operational responsibility for the common areas, architectural control, maintenance of the residential real property being offered for sale, or services for the benefit of the residential real property being offered for sale or other property subject to the declaration including the common areas. See Hawaii Revised Statutes 508D-1
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Residential real property: means fee simple or leasehold real property on which currently is situated:
(1) From one to four dwelling units; or
(2) A residential condominium or cooperative apartment, the primary use of which is occupancy as a residence. See Hawaii Revised Statutes 508D-1
Prior to the sale of residential real property, the property owner shall make a good faith declaration of electricity cost based on the most recent three-month period in which the property was occupied prior to the date of the seller’s disclosure, pursuant to chapter 508D. This declaration shall only apply where the owner directly pays the electrical utility bills, and shall not apply in the case of a foreclosure of residential real property or where there are no electrical utility accounts associated with the property.