Hawaii Revised Statutes 514B-36 – Leasehold units
Terms Used In Hawaii Revised Statutes 514B-36
- Common elements: means :
(1) All portions of a condominium other than the units; and
(2) Any other interests in real estate for the benefit of unit owners that are subject to the declaration. See Hawaii Revised Statutes 514B-3
- Common interest: means the percentage of undivided interest in the common elements appurtenant to each unit, as expressed in the declaration, and any specified percentage of the common interest means such percentage of the undivided interests in the aggregate. See Hawaii Revised Statutes 514B-3
- 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
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- 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
- 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
- Unit owner: means the person owning, or the persons owning jointly or in common, a unit and its appurtenant common interest; provided that to such extent and for such purposes as provided by recorded lease, including the exercise of voting rights, a lessee of a unit shall be deemed to be the unit owner. See Hawaii Revised Statutes 514B-3
An undivided interest in the land that is subject to a condominium property regime equal to a unit‘s common interest may be leased to the unit owner, and the unit and its common interest in the common elements exclusive of the land may be conveyed to the unit owner. The conveyance of the unit with an accompanying lease of an interest in the land shall not constitute a division or partition of the common elements, or a separation of the common interest from its unit. Where a deed of a unit is accompanied by a lease of an interest in the land, the deed shall not be construed as conveying title to the land included in the common elements.