Terms Used In Hawaii Revised Statutes > Chapter 342I > Part I - Lead Acid Batteries

• Acquisition agent: means any person, other than a developer or sales agent, who, for compensation, solicits or encourages others to attend a time share sales presentation or to contact a time share sales agent or developer; provided that this term shall not include individuals who perform the stated activities and are employed by or in contract with:

  (1) A real estate broker who is licensed under chapter 467; or

  (2) An acquisition agent registered pursuant to section 514E-10. See Hawaii Revised Statutes 514E-1

• Affiliate of a developer: means a person that directly or indirectly controls, is controlled by, or is under common control with, the developer. See Hawaii Revised Statutes 514B-3
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means the unit owners' association organized under section 514B-102 or under prior condominium property regime statutes. See Hawaii Revised Statutes 514B-3
• Association: means the time share owners association. See Hawaii Revised Statutes 514E-1
• Blanket lien: means any mortgage, deed of trust, option to purchase, master lease, vendor's lien or interest under a contract or agreement of sale, or any other lien or encumbrance that (i) affects more than one time share interest either directly or by reason of affecting an entire time share unit or the property upon which the time share unit to be used by the purchasers is located, and (ii) secures or evidences the obligation to pay money or to sell or convey the property and that authorizes, permits, or requires the foreclosure and sale or other defeasance of the property affected; provided that for the purpose of this chapter, the following shall not be considered blanket liens:

  (1) The lien of current real property taxes;

  (2) Taxes and assessments levied by public authority and that are not yet due and payable;

  (3) A lien for common expenses under chapter 514B or a lien on an individual time share unit for similar expenses in favor of a homeowners or community association;

  (4) An apartment lease or condominium conveyance document conveying or demising a single condominium unit or a lease of a single cooperative apartment; and

  (5) Any lien for costs or trustee's fees charged by a trustee holding title to time share units pursuant to a trust created under § 514E-19; provided that the costs or trustee's fees are not yet due and payable. See Hawaii Revised Statutes 514E-1

• Commission: means the real estate commission of the State. See Hawaii Revised Statutes 514B-3
• Commission: means the real estate commission established under section 467-3. See Hawaii Revised Statutes 514E-1
• 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 expenses: means expenditures made by, or financial liabilities of, the association for operation of the property, and shall include any allocations to reserves. 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
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Common profits: means the balance of all income, rents, profits, and revenues from the common elements or other property owned by the association remaining after the deduction of the common expenses. See Hawaii Revised Statutes 514B-3
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Completion of construction: means the earliest of:

  (1) The issuance of a certificate of occupancy for the unit;

  (2) The date of completion for the project, or the phase of the project that includes the unit, as defined in section 507-43;

  (3) The recordation of the "as built" amendment to the declaration that includes the unit;

  (4) The issuance of the architect's certificate of substantial completion for the project, or the phase of the project that includes the unit; or

  (5) The date the unit is completed so as to permit normal occupancy. 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
• Condominium map: means , however denominated, a map or plan of the condominium property regime containing the information required by § 514B-33. See Hawaii Revised Statutes 514B-3
• Contract: A legal written agreement that becomes binding when signed.
• conversion: means the submission of a structure to a condominium property regime more than twelve months after the completion of construction; provided that structures used as sales offices or models for a project and later submitted to a condominium property regime shall not be considered to be converted structures. See Hawaii Revised Statutes 514B-3
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Declaration: means any instrument, however denominated, that creates a condominium, including any amendments to the instrument. See Hawaii Revised Statutes 514B-3
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Developer: means a person who undertakes to develop a real estate condominium project, including a person who succeeds to the interest of the developer by acquiring a controlling interest in the developer or in the project. See Hawaii Revised Statutes 514B-3
• Developer: means any person that creates a time sharing plan or is in the business of selling time share units. See Hawaii Revised Statutes 514E-1
• Development rights: means any right or combination of rights reserved by a developer in the declaration to:

  (1) Add real estate to a condominium;

  (2) Create units, common elements, or limited common elements within a condominium;

  (3) Subdivide units, combine units, or convert units into common elements;

  (4) Withdraw real estate from a condominium;

  (5) Merge projects or increments of a project; or

  (6) Otherwise alter the condominium. See Hawaii Revised Statutes 514B-3

• Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 514E-1
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Exchange agent: means a person who operates an exchange program. See Hawaii Revised Statutes 514E-1
• Exchange program: means a plan or program in which the owners or holders of time share interests in a time share plan may exchange occupancy rights among themselves or with the owners or holders of time share interests in other time share plans or with the owner or holders of units in other projects. See Hawaii Revised Statutes 514E-1
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• 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}
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Grantor: The person who establishes a trust and places property into it.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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}
• Lessor: means any or all of the fee simple owners and other persons having legal or equitable ownership interests in the leased fee interest appurtenant to the various condominium units in the condominium project and in the various apartment and ground leases including, but not limited to, any sublessor. See Hawaii Revised Statutes 514C-21
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited common element: means a portion of the common elements designated by the declaration or by operation of § 514B-35 for the exclusive use of one or more but fewer than all of the units. See Hawaii Revised Statutes 514B-3
• Managing agent: means any person retained, as an independent contractor, for the purpose of managing the operation of the property. See Hawaii Revised Statutes 514B-3
• Master development: means a real estate development that consists of more than one project, including but not limited to a planned community association subject to chapter 421J with one or more sub-associations. See Hawaii Revised Statutes 514E-1
• Material fact: means any fact, defect, or condition, past or present, that, to a reasonable person, would be expected to measurably affect the value of the project, unit, or property being offered or proposed to be offered for sale. See Hawaii Revised Statutes 514B-3
• month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Negotiable instrument: means any check, draft, bill of exchange, certificate of deposit, note, and any other document which is an "instrument" within the meaning of article 3 of chapter 490, including instruments subject to said article pursuant to section 490:3-805. See Hawaii Revised Statutes 514E-1
• Nondisturbance agreement: means an instrument by which the holder of a blanket lien agrees that its rights in the property shall be subordinate to the rights of owners. See Hawaii Revised Statutes 514E-1
• Notice of time share plan: means an instrument executed by the holder of the legal and equitable title to the fee or long-term leasehold interest in a time share unit, and which provides notice of the existence of the time share plan and of rights of owners. See Hawaii Revised Statutes 514E-1
• 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.
• Owner: means any person who owns a time share interest; provided, however, that to the extent and for such purposes as are provided in any agreement of sale, the vendee under such agreement of sale shall be considered the owner of the time share interest. See Hawaii Revised Statutes 514E-1
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual, firm, corporation, partnership, association, trust, or other legal entity, or any combination thereof. See Hawaii Revised Statutes 514B-3
• Person: includes an individual, partnership, joint venture, corporation, association, business, trust, or any organized group of persons or legal entities, or any combination thereof. See Hawaii Revised Statutes 514E-1
• Pertinent change: means , as determined by the commission, a change not previously disclosed in the most recent public report that renders the information contained in the public report or in any disclosure statement inaccurate, including, but not limited to:

  (1) The size, construction materials, location, or permitted use of a unit or its appurtenant limited common element;

  (2) The size, use, location, or construction materials of the common elements of the project; or

  (3) The common interest appurtenant to the unit. See Hawaii Revised Statutes 514B-3

• Plan manager: means a person who undertakes the duties, responsibilities, and obligations of managing a time share plan. See Hawaii Revised Statutes 514E-1
• Project: means a real estate condominium project; a plan or project whereby a condominium of two or more units located within the condominium property regime are created. See Hawaii Revised Statutes 514B-3
• Project: means :

  (1) An individual condominium project;

  (2) Two or more contiguous condominium projects that have been merged and for administrative purposes operate as a single condominium project;

  (3) An individual cooperative housing project;

  (4) An individual subdivision of single-family homes subject to one or more project instruments; or

  (5) An individual subdivision of townhomes subject to one or more project instruments. See Hawaii Revised Statutes 514E-1

• 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
• Purchase money contract: means any note, negotiable instrument, agreement of sale, installment sales contract, or other contract which evidences or embodies a debt arising from a purchase money loan made to a purchaser by the developer or a creditor (i) who is affiliated with the developer by common control, contract, or business arrangement, or (ii) to whom the developer referred the purchaser. See Hawaii Revised Statutes 514E-1
• Purchaser: means any person who has contracted to acquire a time share interest. See Hawaii Revised Statutes 514E-1
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• recording: means to record in the bureau of conveyances in accordance with chapter 502, or to register in the land court in accordance with chapter 501. See Hawaii Revised Statutes 514B-3
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Resident manager: means any person retained as an employee by the association to manage, on-site, the operation of the property. See Hawaii Revised Statutes 514B-3
• Sales agent: means a person who sells or offers to sell for compensation a time share interest in a time share plan, except a person who acquired a time share interest for the person's own occupancy and later offers it for resale. See Hawaii Revised Statutes 514E-1
• Structures: includes but is not limited to buildings. See Hawaii Revised Statutes 514B-3
• Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
• Testify: Answer questions in court.
• Time share interest: means any interest in a time share unit or plan which entitles the owner or holder thereof to the use, occupancy or possession of a time share unit on a periodically recurring basis. See Hawaii Revised Statutes 514E-1
• Time share ownership plan: means any arrangement whether by tenancy in common, sale, deed or by other means, whereby the purchaser receives an ownership interest and the right to use the property for a specific or discernible period by temporal division. See Hawaii Revised Statutes 514E-1
• Time share plan: means any plan or program in which the use, occupancy, or possession of one or more time share units circulates among various persons for less than a sixty-day period in any year, for any occupant. See Hawaii Revised Statutes 514E-1
• Time share unit: means the actual and promised accommodations, and related facilities, which are the subject of a time share plan. See Hawaii Revised Statutes 514E-1
• Time share use plan: means any arrangement, excluding normal hotel operations, whether by membership agreement, lease, rental agreement, license, use agreement, security or other means, whereby the purchaser receives a right to use accommodations or facilities, or both, in a time share unit for a specific or discernible period by temporal division, but does not receive an ownership interest. See Hawaii Revised Statutes 514E-1
• Trustee: A person or institution holding and administering property in trust.
• 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 holder of the fee of a unit not used as a time share unit; except that if the fee is encumbered by a lease of at least five years duration, then the person entitled to possession shall be deemed to be the unit owner. See Hawaii Revised Statutes 514E-1
• 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