Hawaii Revised Statutes 516-63 – Free assignability
Except as otherwise provided in § 516-35 and restrictions placed in leases by state or county agencies, a lessee may assign the lessee’s lease at any time without the approval or consent of the lessor, and the assignee shall have the same rights and obligations under the lease as the original lessee; provided that no assignment shall be effective to transfer any interest in the lease unless the lessor has received:
Terms Used In Hawaii Revised Statutes 516-63
- county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
- 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
- Lease: means a conveyance of land or an interest in land, by a fee simple owner as lessor, or by a lessee or sublessee as sublessor, to any person, in consideration of a return of rent or other recompense, for a term, measured from the initial date of the conveyance, twenty years or more (including any periods for which the lease may be extended or renewed at the option of the lessee). See Hawaii Revised Statutes 516-1
- 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
- Lessee: means any person to whom land is leased or subleased, and the lessee's heirs, successors, legal representatives, and assigns. See Hawaii Revised Statutes 516-1
- Lessor: means any person who leases or subleases land to another, and the lessor's heirs, successors, legal representatives, and assigns. See Hawaii Revised Statutes 516-1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
No assignment shall release the assignor from liability under the lease unless the lessor consents in writing to the assignment. A consent to the assignment shall be deemed a consent to the release of the assignor from liability under the lease. The lessor shall not require payment of any money for the lessor’s consent except the service charge, nor withhold consent unreasonably. Any person acquiring the leasehold estate in consideration of the extinguishment of a debt secured by mortgage of the lease or through foreclosure sale, judicial or otherwise, shall be liable to perform the obligations imposed on the lessee by the lease only during the period the person has possession or ownership of the leasehold estate.