Hawaii Revised Statutes 657D-24 – Settlement of cases involving stayed proceedings to foreclose mortgage on, resume possession of, or terminate contract for purchase of, personal property
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Terms Used In Hawaii Revised Statutes 657D-24
- Contract: A legal written agreement that becomes binding when signed.
- Court: includes any court of competent jurisdiction of the State of Hawaii, whether or not a court of record. See Hawaii Revised Statutes 657D-1
- Dependent: A person dependent for support upon another.
- Military service: means service on state active duty in any of the state military forces or full time National Guard duty. See Hawaii Revised Statutes 657D-1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: when used with reference to the holder of any right alleged to exist against a person in military service or against a person secondarily liable under such right, includes individuals, partnerships, corporations, and any other forms of business association. See Hawaii Revised Statutes 657D-1
- Personal property: All property that is not real property.
Where a proceeding to foreclose a mortgage upon or to resume possession of personal property, or to rescind or terminate a contract for its purchase, has been stayed as provided in this chapter, the court, unless in its opinion an undue hardship would result to the dependents of the person in the military service, may appoint three disinterested parties to appraise the property and, based upon the report of the appraisers, order that sum, if any, as may be just, paid to the person in military service or the person’s dependent, as the case may be, as a condition of foreclosing the mortgage, resuming possession of the property, or rescinding or terminating the contract.