Terms Used In Hawaii Revised Statutes > Chapter 667 - Foreclosures

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Allegation: something that someone says happened.
• 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.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Approved budget and credit counselor: means a Hawaii-based budget and credit counseling agency that has received approval from a United States trustee or bankruptcy administrator to provide instructional courses concerning personal financial management pursuant to title 11 United States Code § 111. See Hawaii Revised Statutes 667-1
• Approved housing counselor: means a Hawaii-based housing counseling agency that has received approval from the United States Department of Housing and Urban Development to provide housing counseling services pursuant to section 106 (a) (2) of the Housing and Urban Development Act of 1968, title 12 United States Code § 1701x, as the agency appears on the United States Department of Housing and Urban Development website. See Hawaii Revised Statutes 667-1
• articles: includes amended and restated articles of incorporation, and articles of merger. See Hawaii Revised Statutes 414D-14
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• board of directors: means the board of directors of a corporation except that no person or group of persons are the board of directors because of powers delegated to that person or group pursuant to § 414D-131. See Hawaii Revised Statutes 414D-14
• Borrower: means the borrower, maker, cosigner, or guarantor under a mortgage agreement. See Hawaii Revised Statutes 667-1
• Bylaws: means the code or codes of rules (other than the articles) adopted pursuant to this chapter for the regulation or management of the affairs of the corporation irrespective of the name or names by which the rules are designated. See Hawaii Revised Statutes 414D-14
• Class: refers to a group of memberships which have the same rights with respect to voting, dissolution, redemption, and transfer. See Hawaii Revised Statutes 414D-14
• Code: means the federal Internal Revenue Code of 1986, as amended. See Hawaii Revised Statutes 414D-14
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Corporation: means a nonprofit corporation unless otherwise specified. See Hawaii Revised Statutes 414D-14
• 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.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Delegates: means those persons elected or appointed to vote in a representative assembly for the election of a director or directors or on other matters. See Hawaii Revised Statutes 414D-14
• Department: means the department of commerce and consumer affairs. See Hawaii Revised Statutes 667-1
• Department: means the department of commerce and consumer affairs, unless the context otherwise requires. See Hawaii Revised Statutes 414D-14
• Department director: means the director of the department of commerce and consumer affairs, unless the context otherwise requires. See Hawaii Revised Statutes 414D-14
• Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 667-1
• Directors: means individuals, designated in the articles or bylaws or elected by the incorporators, and their successors and individuals elected or appointed by any other name or title, to act as members of the board. See Hawaii Revised Statutes 414D-14
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Dispute resolution: means a facilitated negotiation under part V between a mortgagor and mortgagee for the purpose of reaching an agreement for mortgage loan modification or other agreement in an attempt to avoid foreclosure or to mitigate damages if foreclosure is unavoidable. See Hawaii Revised Statutes 667-1
• Distribution: means the payment of a dividend or any part of the income or profit of a corporation to its members, directors, or officers. See Hawaii Revised Statutes 414D-14
• Dower: A widow
• Entity: includes domestic and foreign corporations, domestic professional corporations, domestic and foreign limited liability companies, domestic and foreign nonprofit corporations, domestic and foreign business trusts, estates, domestic and foreign partnerships, domestic and foreign limited partnerships, domestic and foreign limited liability partnerships, trusts, two or more persons having a joint or common economic interest, associations and cooperative associations, and state, federal, and foreign governments. See Hawaii Revised Statutes 414D-14
• 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.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• filing: means filed in the office of the department director. See Hawaii Revised Statutes 414D-14
• 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}
• Foreclosure notice: means notice of default and intention to foreclose prepared pursuant to section 667-22. See Hawaii Revised Statutes 667-1
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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.
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• 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.
• Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
• Mailed: means to be sent by first class mail, postage prepaid, unless otherwise expressly directed in this chapter. See Hawaii Revised Statutes 667-1
• Member: means (without regard to what a person is called in the articles or bylaws) any person or persons having the rights and obligations of membership pursuant to a corporation's articles of incorporation or bylaws. See Hawaii Revised Statutes 414D-14
• Merger: means the procedure authorized by this part in which one domestic or foreign entity combines with one or more domestic or foreign entities resulting in either one surviving entity or one new entity. See Hawaii Revised Statutes 414D-14
• month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
• Mortgage: means a mortgage, security agreement, or other document under which property is mortgaged, encumbered, pledged, or otherwise rendered subject to a lien for the purpose of securing the payment of money or the performance of an obligation. See Hawaii Revised Statutes 667-1
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage agreement: includes the mortgage, the note or debt document, or any document amending any of the foregoing. See Hawaii Revised Statutes 667-1
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgaged property: means the property that is subject to the lien of the mortgage. See Hawaii Revised Statutes 667-1
• Mortgagee: means the current holder of record of the mortgagee's or the lender's interest under the mortgage or the current mortgagee's or lender's duly authorized agent. See Hawaii Revised Statutes 667-1
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: means the mortgagor or borrower named in the mortgage and, unless the context otherwise indicates, includes the current owner of record of the mortgaged property whose interest is subject to the mortgage. See Hawaii Revised Statutes 667-1
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Neutral: means a person who is a dispute resolution specialist assigned to facilitate the dispute resolution process required by part V. See Hawaii Revised Statutes 667-1
• Nonjudicial foreclosure: means foreclosure under power of sale. See Hawaii Revised Statutes 667-1
• 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.
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner-occupant: means a person, at the time that a notice of default and intention to foreclose is served on the mortgagor under the power of sale:

  (1) Who owns an interest in the residential property, and the interest is encumbered by the mortgage being foreclosed; and

  (2) For whom the residential property is and has been the person's primary residence for a continuous period of not less than two hundred days immediately preceding the date on which the notice is served. See Hawaii Revised Statutes 667-1

• Person: includes any individual or entity. See Hawaii Revised Statutes 414D-14
• Personal property: All property that is not real property.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• power of sale foreclosure: means a nonjudicial foreclosure when:

  (1) The mortgage contains, authorizes, permits, or provides for a power of sale, a power of sale foreclosure, a power of sale remedy, or a nonjudicial foreclosure; or

  (2) For the purposes of part VI, an association enforces its claim of an association lien, regardless of whether the association documents provide for a power of sale, a power of sale foreclosure, a power of sale remedy, or a nonjudicial foreclosure. See Hawaii Revised Statutes 667-1

• Principal office: means the office (in or out of the State) so designated in the annual report where the principal offices of a domestic or foreign corporation are located. See Hawaii Revised Statutes 414D-14
• Proceeding: includes civil suit and criminal, administrative, and investigatory action. See Hawaii Revised Statutes 414D-14
• Property: means property (real, personal, or mixed), an interest in property (including fee simple, leasehold, life estate, reversionary interest, and any other estate under applicable law), or other interests that can be subject to the lien of a mortgage. See Hawaii Revised Statutes 667-1
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Record: means to record or file a document in the office of the assistant registrar of the land court under chapter 501 or to record a document in the bureau of conveyances under chapter 502, or both, as applicable. See Hawaii Revised Statutes 667-1
• 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.
• Residential property: means real property that is improved and used for residential purposes. See Hawaii Revised Statutes 667-1
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Subpoena duces tecum: A command to a witness to produce documents.
• Summons: Another word for subpoena used by the criminal justice system.
• Trustee: A person or institution holding and administering property in trust.
• Vote: includes authorization by ballot and written consent. See Hawaii Revised Statutes 414D-14
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.