Terms Used In Hawaii Revised Statutes 657D-6

• Contract: A legal written agreement that becomes binding when signed.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• 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: 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• 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.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Period of military service: means the period beginning on the date on which the person enters state active duty or full time National Guard duty and ending on the date of the person's release from state active duty or full time National Guard duty or the person's death while on state active duty or full time National Guard duty. See Hawaii Revised Statutes 657D-1
• 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