Hawaii Revised Statutes 517-1 – Court approval of disposition of property under restraint
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Terms Used In Hawaii Revised Statutes 517-1
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Notwithstanding any limitation in any instrument creating any estate or trust, whether or not eleemosynary or incorporated, and whether or not in effect prior to April 24, 1957, which forbids or restrains the sale of real property of such estate or trust or which limits the terms of lease of such property to periods less than fifty-five years, the trustees or officers of the estate or trust, with the approval of the court, may sell the real property of the estate or trust or may lease the same for periods up to fifty-five years whether or not the lease shall extend beyond the expiration date of the estate or trust.