Hawaii Practice Test -
You're on a planning board that's discussing how to keep the city more livable by reducing building density. The subject of bulk zoning comes up. What is your response?
"That's a great way to meet our objectives." - Bulk zoning can apply to both residential and commercial zones, and it doesn't increase density.
Which of these is an example of a ground lease in Hawaii
A landowner leases undeveloped land to another party, who then builds on that land., With a ground lease, the landowner leases the land to the tenant, who builds on the property. Ground leases are written for long periods so the tenant can recoup expenses, because when the lease is up, the landowner gets land back plus improvements.
Which of these is a feature of a cooperative but not a condominium?
A lease agreement provides some of the governing regulations. - Co-op governing documents typically include corporate bylaws and a lease agreement for each unit.
Tina is negotiating a commercial lease in Hawaii. For which transaction is agency disclosure required?
A lease that's one year or longer - Commercial leases of one year or longer require agency disclosure.
Travis, a licensed salesperson, filed a complaint against his broker alleging lack of supervision. He was awarded a judgment of $10,000, but the broker won't pay. For what amount may Travis apply to the real estate recovery fund?
$0 - Hawaii's real estate recovery fund reimburses consumers who've been awarded a court judgment against a licensee. Licensees are not eligible to apply for reimbursement from the fund.
Tanya is in a week-to-week tenancy with her Kona landlord, Gabrielle. What type of notice must she give Gabrielle if she decides to terminate?
10 days, in writing or oral - Either landlords or tenants may terminate a week-to-week tenancy with 10 days' written or oral notice.
Brady moved out of his Lihue condo. How many days does his landlord have to provide him with a refund of his security deposit and an itemized accounting of deductions taken?
14 - Landlords have 14 days. The notice must be in writing and accompanied by receipts for deductions taken as well as a check for the remainder.
The Hawaii Condominium Property Act requires that developers designate which percentage of condo developments to initially be sold to buyers who plan to occupy their units?
50%, Developers are required to designate at least 50% of the units to be sold to owner-occupants.
In Hawaii, what's the prelicensing education requirement for brokers?
80 hours, Hawaii requires 80 hours of prelicensing education for brokers, and 60 hours for salespeople.
Which of these has the highest allowable interest rate under Hawaii's usury laws?
A consumer loan from a financial institution, Hawaii permits financial institutions to charge up to 24% interest on consumer transactions and home business loans, provided a written agreement is in place.
Jenna and Hank just executed a contract for the sale of Hank's property. What Hawaii person or entity is most likely to handle the closing?
A title company - Hawaii closings are nearly always managed by an escrow or closing officer at a title insurance company.
Adam purchased the property at 125 Bay Lane. After the deed was recorded at the county courthouse, Adam notified all involved parties of the recordation by a certified letter. What kind of notice is this?
Actual notice - This is actual notice, because the notice was given to and received by the relevant parties. Had Adam recorded the deed but not informed anyone, this would have been constructive notice.
In Hawaii, who's required to take 80 hours of prelicensing education and pass a licensing exam with a score of 75% or higher?
Brokers, Brokers are required to take 80 hours of prelicensing education and pass the broker's exam with a score of 75% or higher. In addition, they must prove they have worked as an active real estate salesperson for three of the last five years.
How is ad valorem property tax calculated?
By multiplying the property's assessed value by the tax rate,Ad valorem taxes are based on property value. To calculate ad valorem property tax, multiply the property's tax-assessed value by the jurisdiction's tax rate.
In Hawaii, where would Lei most likely find information about her rights to attend her condo association board meetings?
Bylaws - Bylaws detail owner's rights related to condominium governance as well as the board's scope of authority .
A person or entity retained to provide condominium lodging in Hawaii for periods shorter than 30 days must register as a ______.
CHO - A person or entity retained to provide condominium lodging for periods shorter than 30 days must register as a condominium hotel operator, and must obtain a fidelity bond.
Clint was looking for alternatives to the traditional vacation condo rental for his family. He purchased the right to use a given set of facilities at any point throughout the year. What did Clint purchase?
Campground membership - A campground membership gives the purchaser the right to use all of the campground facilities, such as water or electric hookups, restrooms, and recreational facilities like pools or playgrounds. Members may use the facilities at any time during the year.
Which act was the first to prohibit any exceptions for discrimination based on race or color?
Civil Rights Act of 1866 ,Unique among anti-discrimination law, the Civil Rights Act of 1866 recognized all U.S.-born persons as citizens and allowed no exceptions for discrimination based on race or color.
Which of the following has the legal effect of preventing a person from making a claim based on her prior behavior or statements?
Estoppel, This is the purpose of estoppel. A person is stopped from saying agency doesn't exist when the other person can point to prior behavior or an action that establishes agency.
Roberto's landlord won't cut Roberto any slack in paying his rent on time, so Roberto files a false complaint about a safety violation to get even with his landlord. Based on retaliatory eviction regulations, what can the landlord do?
Evict Roberto.,Hawaii laws specifically permit a landlord to evict a tenant if the tenant files a false claim about a health or safety violation.
At a closing, what cooperative tax is often based on a percentage of the gross sale, net sale, or gain, or on the number of shares the shareholder owns?
Flip tax, This is how the flip tax works. It is imposed regardless of the duration of ownership.
Kimmie submitted her property to the Land Court for review. The examiner notified Kimmie that her property ownership wasn't clear. Kimmie withdrew her application within the prescribed time frame. Why is this important?
If Kimmie continued, the Land Court would notify any others with potential interests in the property.
A lease is about to be terminated in Hawaii. Which of the following is a true statement about Hawaii landlord-tenant law?
If it's a week-to-week tenancy, a landlord may give 10 days' oral notice., The requirements are 10 days' written or oral notice for a week-to-week tenancy.
Which of the following is a possible title issue with a real estate owned transaction?
Internal audit delays - Internal audits may cause delays in the title transfer process. - REO properties have already been through the foreclosure process, and the bank has therefore likely paid any liens and dealt with any eviction issues.
James is the trustee for Makani's land trust. Which of these statements best describes the acts James can perform as the trustee?
James must adhere to the agreement he's entered into with the beneficiary related to his scope of authority., Most land trust agreements leave management and conveyance control in the hands of the beneficiary. The trustee acts upon the beneficiary's wishes.
The Hawaii Real Estate Recovery Fund paid a claim to one of Jarod's clients. Which of these statements is true?
Jarod's license will be terminated for at least five years. - The license of any individual on whose behalf the Real Estate Recovery Fund reimburses a consumer will be terminated for a minimum of five years. The licensee will not be eligible for a license until all funds have been reimbursed to the fund.
Which of these is most likely to be a type of assistance offered through HPHA?
Providing a rental supplement to a low-income family - HPHA helps to develop affordable rental and supportive house. The agency administers Hawaii's Section 8 housing program as well as senior housing, job training, and high school equivalency programs.
Jesse has permission to live on his father's Kauai property as long as Jesse's grandmother is alive. This is an example of which type of life estate?
Pur autre vie, A pur autre vie life estate grants an estate to someone for the duration of someone else's life.
Regal moved to Hawaii County from Arizona and signed a 10-year lease. She's responsible for paying the property taxes on her condo. She just learned she's not eligible for the homeowner exemption. Why might that be?
Regal must demonstrate a full year of tax filing before she's eligible. - Leasehold owners are eligible for the exemption if they're responsible for paying the taxes. In Hawaii County, Regal needs to demonstrate a year of tax filing to be eligible. Remember that eligibility requirements vary among counties.
Regal moved to Hawaii County from Arizona and signed a 10-year lease. She's responsible for paying the property taxes on her condo. She just learned she's not eligible for the homeowner exemption. Why might that be
Regal must demonstrate a full year of tax filing before she's eligible., Leasehold owners are eligible for the exemption if they're responsible for paying the taxes. In Hawaii County, Regal needs to demonstrate a year of tax filing to be eligible. Remember that eligibility requirements vary among countie
The Hawaii Land Use Commission arranges for special use permits in which land use district?
Rural - The Land Use Commission has the responsibility for approving special permits in both the agricultural and the rural land use districts.
When property managers take matters into their own hands and evict a tenant without going through the proper legal procedures, what type of eviction is it?
Self-help eviction - A self-help eviction occurs when property managers take matters into their own hands rather than taking the time to go through the proper channels.
The Housing and Community Development Act of 1974 added which protected class to federal fair housing law?
Sex, The Housing and Development Act of 1974 added sex as a protected class, which helped prevent discrimination and sexual harassment for individuals seeking housing.
Select the statement that accurately reflects cooperative ownership
Shareholders may essentially be responsible for two mortgage payments., Because shareholders are responsible for a share of the common expenses, which may include the corporation's mortgage, they may be paying for that as well as their own mortgage.
Toni purchased a fee simple property in Hawaii. Her deed is recorded in Hawaii's regular system. What can she do to ensure she has sole ownership of the property?
Submit the property to Hawaii Land Court., Toni can submit the property to Hawaii Land Court. The judicial review process will reveal if Toni is the sole owner. If she is, she'll receive a certificate of title verifying ownership.
George Badguy sold his condo twice to two unsuspecting buyers. The first closing was on May 1, and the second closing was on May 2. The May 2 buyer recorded the deed on May 3. Who has ownership priority?
The May 2 buyer - Recordation timing determines ownership priority. Even though the May 1 buyer closed on the property first, the buyer on May 2 recorded the deed and so has ownership priority. Very bad behavior, Mr. Badguy!
Which of these acknowledgments do buyers and sellers make by signing the HAR Purchase Contract form?
The seller makes no guarantee regarding the property's future resale value - By signing the contract form, buyers and sellers acknowledge that the seller and brokerage firm aren't guaranteeing future rental returns or resale value.
Ron and Eliana are neighbors. Ron wants to buy Eliana's Maui rental property. In the contract that Ron and Eliana sign, Ron is identified only as "the neighbor." Which statute or contract element does this violate?
The statute of frauds, The statute of frauds requires not only that a contract to convey property be in writing, but also that the contract identify the parties to the contract.
A Hawaii landlord has set the monthly rent for a residential unit at $1,850. What's the maximum amount the landlord can require for a security deposit?
Twice the monthly rental amount - If the tenant is permitted to bring a pet, the landlord may charge twice the monthly rental rate as a deposit.
Regarding the need for consent for a Hawaii contract to be valid, which of the following exists when an act of persuasion overcomes another person's free will and judgment?
Undue influence, Undue influence occurs when persuasion overcomes another person's free will and judgment. Duress occurs when a threat is involved.
Sherman has a subdivided land project on the mainland. He'd like to offer it for sale to Hawaii buyers. Which act requires him to register first with the state of Hawaii?
Uniform Land Sales Practices Act, The Uniform Land Sales Practices Act requires registration with the state before offering subdivided land for sale to Hawaii residents.
Which of these most accurately depicts an agreement of sale (land contract)?
Victor buys a property from Yolanda for $200,000. Victor agrees to pay Yolanda in monthly installments of $4,000 over the course of 50 months. Yolanda will retain title to the property until the loan is fully paid., An agreement of sale involves a seller financing the property purchase and retaining title to the property until the loan is paid in full.
Why is proximity to a wetlands area subject to material fact disclosure?
Wetlands areas are often home to protected species of wildlife or plants. - Thus, development of these areas is more limited and subject to special permitting.
Which of the following is used to establish proof of ownership?
Deed, A deed is used to establish proof of ownership.
The principal broker of Welcome Home Real Estate failed to renew the business name registration. What happens now?
All firm and licensee licenses will be placed on involuntary inactive status until the business name is registered. - If the firm fails to register the business name, all firm and individual licenses will be placed on inactive status.
In which of these situations is the Residential Leasehold Property Addendum most likely to be used?
Amos is purchasing a leasehold property. - Required by the Residential Leasehold Disclsoure Act, the Residential Leasehold Property Addendum is used to provide buyers with information about the ground lease on the leasehold property they're purchasing.
In which of these situations is the Residential Leasehold Property Addendum most likely to be used?
Amos is purchasing a leasehold property., Required by the Residential Leasehold Disclsoure Act, the Residential Leasehold Property Addendum is used to provide buyers with information about the ground lease on the leasehold property they're purchasing.
What's a quiet title action?
An action to locate and notify all who may have some claim on the title, and determine the validity of all claims, A quiet title action involves locating a person who may have some claim on the title and determining the validity of any claims on title.
What does the Federal Trade Commission consider to be an unfair ad?
Any ad or business practice that causes or is likely to cause injury - Any ad or business practice that causes or is likely to cause injury is considered an unfair ad, according to the FTC's Unfairness Policy Statement.
Bane's tenant has made frequent complaints regarding the landlord's failure to properly maintain the condo unit. Bane begins eviction proceedings against the tenant. Under which of these circumstances is this eviction illegal in Hawaii?
Bane's tenant has made frequent complaints regarding the landlord's failure to properly maintain the condo unit. Bane begins eviction proceedings against the tenant. Under which of these circumstances is this eviction illegal in Hawaii?
In a tax map key, what does CPR stand for?
Condominium property regime, CPR stands for condominium property regime, and identifies the unit number of the property.
Which of the following elements is always required for a Hawaii real estate contract to be valid?
Consideration - In addition to consideration, a contract needs to be in writing and have legally competent parties, offer and acceptance, and a legal purpose.
Constance, the principal broker, authorized Gina, an associated licensee, to deliver three earnest money checks to the escrow company that will hold them. Which of these is correct?
Constance may provide written authorization for another party to either deposit or deliver escrow funds to the appropriate place. -The principal broker or broker in charge may provide written authorization for someone else within the firm to either deposit or deliver earnest money funds wherever the broker would personally place them.
Which of these statements about Special Management Area boundaries in Hawaii is true?
Counties must seek approval to reduce the size of the SMA., Development within SMA boundaries requires a special permit; counties set SMA boundaries and may amend them, but must seek approval to reduce the SMA size.
Marta is on month-to-month lease agreement under which she's responsible for utility payments. She has complained to her landlord several times about maintenance issues around the Maui house she rents. She received a subsequent rent increase and has filed suit, claiming it's a retaliatory act. Given these circumstances, which of these justifies a rent increase?
Damage Marta caused forced the landlord to make substantial repairs to the property. - Even if circumstances for a retaliatory eviction exist, the landlord can still increase the rent based on certain conditions
When Betsy closed on her Hawaii condo purchase, she needed to reimburse the seller for a prepaid water bill of $57. How did this appear on Betsy's settlement statement?
Debit (left-hand column), An amount that a party owes at closing will appear as a debit to that party. Debits are recorded in the left-hand column of the two-column settlement statement.
Any ad or business practice that causes or is likely to cause injury is considered an unfair ad, according to the FTC's Unfairness Policy Statement.
Deceptive Ad
Which entity has day-to-day responsibility for administering Hawaii's coastal zone management program?
Hawaii Department of Planning and Economic Development, The Hawaii Office of Planning, under the authority of the Department of Planning and Economic Development, or DPED, administers the program, which looks at the ecosystem as an interrelated whole, rather than as individual species, uses, and resources.
Which of these statements most accurately reflects Hawaii laws related to rent payment and increases?
Hawaii doesn't regulate rent increases but does mandate tenant notification. - Hawaii statutes don't include rent control, but they do mandate tenant notification of rent increases for all periodic tenancies.
Which of these statements related to the NAR Code of Ethics and Hawaii real estate licensees is true?
Hawaii licensees who violate the Code of Ethics may also be in violation of state statute., Hawaii codified licensee ethical behavior in HAR 16-99-3, requiring licensees to protect against unethical practices.
Marcus believes that the board of directors is unfairly applying portions of the cooperative's bylaws to him because he's a vocal shareholder. Based on HRS 421-I9, which of these is true about the options Marcus has?
He must submit to mediation. - HRS 421-I requires parties to submit first to mediation, then to arbitration.
In which of these situations can Marvin be associated with two separate brokerage firms?
He's been temporarily appointed as PB at another firm. , Licensees may be associated with only one firm at a time unless they're temporarily appointed to serve as PB or BIC for a firm.
Keith is selling his condominium. Which of these statements about his disclosure responsibilities is FALSE?
Keith must disclose the amount of any impending special assessments., The seller's property disclosure requires Keith to disclose if there are any impending special association assessments, but not the amount.
Which of these statements best describes the history of Hawaii's land use and control system?
King Kamehameha was the last in a long line of Hawaiian rulers to rule under the feudal system of land use and control., King Kamehameha began his rule under the feudal system, but soon charged the Land Commission with distributing land to commoners. The process began in 1850.
Which of these is NOT an example of a purchase money mortgage?
Kirsten is financing the full purchase price for the investors who are purchasing her duplex. The investors will provide a 15% down payment, and Kirsten will hold title to the property. - A primary difference between an agreement of sale and a purchase money mortgage is who will hold title. If the seller will hold the title, it's an agreement of sale. If the seller will hold a lien against the property, it's a purchase money mortgage.
To which of these loans would Hawaii's usury laws apply?
Kirstin agreed to loan a customer $5,000 to purchase inventory. There's no written loan documentation. - Because the loan to Kirstin's customer isn't documented in writing, it's subject to a 10% interest rate restriction under Hawaii's usury laws.
Gina wrote a lease agreement for use with the six apartments she owns. Which of these provisions would Hawaii law prohibit?
Landlord is not liable for injuries sustained on the premises. - The rental agreement may not include any terminology that limits the landlord's liability.
Mickey's license has been forfeited because the principal broker's license lapsed. What will most likely happen to the seller's transaction on which Mickey is currently working?
Mickey must cease all licensed activity, which means referring his client to another brokerage firm., When a license is forfeited for any reason, the licensee must immediately stop performing all licensed activities. The licensee may be able to transfer to a new firm, but that process can take a few days, in which time the client would be unrepresented.
What is the difference between leasehold ownership and a leasehold estate?
Leasehold ownership refers to a ground lease; a leasehold estate is a less-than freehold estate (tenancy)., Leasehold ownership refers to a tenant in a ground lease. The tenant owns the property improvements, and the landlord owns the underlying land.
Which of these best describes the purpose of Hawaii's Land Reform Act
Leasehold properties could be converted to fee simple properties through eminent domain., Hawaii's Land Reform Act of 1974 permitted the government to require conversion of some leasehold properties to fee simple properties through eminent domain proceedings.
Carlton signed a contract to build an addition to Tom's Oahu house on March 1. He began work March 15. He completed work on May 21. On May 31, he filed an application for a lien. If approved, what is the date the lien attaches to the property?
March 15 - If the court approves a mechanic's lien, the attachment date is the date visible work on the project began.
Which of these statements about restoring a forfeited license is correct?
Mark forfeited his license three years ago. He can restore the license by applying, paying any fees, and completing 30 elective continuing education hours. , Because Mark's license was forfeited for longer than one year but fewer than four years, he can completed 30 hours of elective CE, complete the HI pre-licensing course for his level of licensure, or pass the licensing exam.
Select the best example of a typical Hawaii ground lease
McKenna has an extended term leasehold interest in her Waikiki house., In a ground lease, aka leasehold ownership, the fee simple owner conveys an ownership interest to a lessee for an extended term of up to 99 years.
Nathan assisted with the purchase of a commercial building that will be used as a community center. He doesn't hold a real estate license, yet his actions didn't violate any license laws. What must be true about Nathan's situation?
Nathan is a public official whose salaried duties include real estate transactions., Licensure is nearly always required when performing real estate activities for others for compensation, but exceptions are made in specific circumstances, such as a public officer performing official duties.
Mary is 68 years old and employed full time. She's of Spanish descent, is raising her 12-year-old grandson, and lives with her partner, Sue. Mary uses a wheelchair. Based on this information, which of these lists all the classes under which Mary be protected if she faces housing discrimination?
National origin, sex, sexual orientation, disability, and familial status - Mary would be protected under federal law if she experienced housing discrimination based on her national origin, sex, disability, or familial status. State law also protects her based on sexual orientation.
Katerina places a campaign sign in her condominium yard supporting her choice of candidate. The condominium association sends her a notice requiring her to remove the sign. Is this legal?
No, because Hawaii laws expressly permit her to place such a sign., Tenants are expressly permitted by law to place legal signs or outdoor ads urging voters to vote for any person or issue.
Some properties were built before their counties joined the NFIP. If repairs or improvements exceed 50% of the property's market value, the entire property must be brought into compliance with current county floodplain management regulations.
None of these - In general, mortgage loans aren't subject to Hawaii usury laws.
James remodeled a kitchen in Hilo. He began work on July 12 and finished on August 15. He published notification of completion on August 17. What's the last day that he may apply for a mechanic's lien?
October 1, Contractors have 45 days from the date of completion to file for a lien. Completion occurs when a notice of completion has been published.
Hawaii land trusts provide which of the following benefits?
Privacy of ownership - Land trust beneficiaries are afforded a certain amount of anonymity in Hawaii.
Land trusts in Hawaii provide which of the following benefits?
Privacy of ownership - Land trust beneficiaries are afforded a certain amount of anonymity in Hawaii.
How does tenancy differ from leasehold ownership?
Tenants may not make improvements to a property without permission; leasehold owners may. - A leasehold is an ownership interest in a property; leaseholders "own" the property improvements for an extended period (up to 99 years) and can convey their property interest. Tenants don't have ownership rights.
All brokerage firms must have a principal broker or broker-in-charge at the principal place of business and at least one broker-in-charge at any branch office. Which of these statements is true?
The BIC at a branch office has become ill and will be gone for a couple of months. Another broker must be appointed as temporary BIC. - A PB's or BIC's prolonged absence must be filled within 30 days of vacancy through temporary appointment of another broker to that position.
All brokerage firms must have a principal broker or broker-in-charge at the principal place of business and at least one broker-in-charge at any branch office. Which of these statements is true?
The BIC at a branch office has become ill and will be gone for a couple of months. Another broker must be appointed as temporary BIC., A PB's or BIC's prolonged absence must be filled within 30 days of vacancy through temporary appointment of another broker to that position.
Which of these statements accurately describes finance- and housing-related legislation?
The Civil Rights Act of 1968 prohibited discrimination in the sale, rental, and financing of housing based on race, color, religion, or national origin. - Title VIII of the Civil Rights Act of 1968 made race, color, national origin, and religion protected classes and prohibits housing and housing financing discrimination. The ECOA prohibits discrimination based on any protected class.
For the real estate industry, what's the primary impact of the PASH decision?
The ambiguous nature of the decision places into question what access property owners can and can't prohibit. -The primary impact of PASH results from the ambiguous nature of enforcement and what activities are and aren't protected.
John and Lei are in a dispute over a rent increase. John requests that rent be deposited into Hawaii's rent trust fund. What amount of rent must Lei deposit? -
The amount agreed to in the original rental agreement, The tenant must pay only the original rent amount when a dispute arises over a rent increase and the court has been asked to intervene.
Which of the following items are included in the HAR Buyer Representation Contract?
The compensation the buyer's brokerage firm will receive - The buyer's brokerage firm compensation is included in the agreement.
Margot purchased shares in a Hawaii Co-op a little over a year ago. She just realized that she never received a property tax bill. Which of these statements might explain this?
The cooperative corporation pays the property taxes. - A cooperative is a business entity (corporation, partnership, or trust) that owns the building and pays the property taxes. Each lessee is assessed a portion of the tax attributable to the individual unit.
Under which of these circumstances would developer control over an association board NOT be automatically terminated?
The first unit sold 250 days ago, and 50% of units have been sold.
What does it mean when an individual has an interest in real property?
The individual has some claim against or right to a property. - An ownership interest refers to the individual's legal rights to a specific property. These rights may be either as an owner or as a tenant.
After the condominium project governance has been turned over to the association, the declaration can be amended by a 67% affirmative vote of the common interest ownership. What does this mean?
The number of votes depends on the percentage of a unit owners' interest in the project's common areas.- The declaration designates a specific percentage of common interest to each unit, usually relative to unit size. Thus, some owners may have a larger vote in this situation than other owners.
Caitlin needs to pay for some routine maintenance to one of the units in her apartment complex. Which bank account should she use?
The operating account for that specific unit,Funds in the firm's operating account are used for operating expenses. Trust account funds are disbursed only for very specific purposes, such as returning a security deposit.
How does the tax rate for resort properties compare to the residential property tax rate in Hawaii?
The resort rate is higher., A property's use is considered when determining property tax rates in Hawaii. Commercial resort tax rates are higher than residential tax rates.
What right do terms of a Hawaii listing agreement typically grant to the listing agent and firm?
The right to place a full-page ad in a high-end real estate publication, The Hawaii listing agreement typically grants permission to the listing agent and firm to advertise the property, including listing the property on the MLS and providing appropriate signage.
How do buyers qualify to participate in the sale to owner-occupants in a new condominium project?
They must sign an affidavit stating they intend to live in it as their primary residence for at least the next 365 days., Buyers can't rent it at all during the first year, or sell it. If they violate the terms of the affidavit, they can be fined $10,000 or 50% of the proceeds from sale or rent, whichever is greater.
Vivian is selling her Oahu property. She has a certificate of title that verifies her ownership. How will title to the property be conveyed to the new owner?
Through a deed and TCT, Properties registered through the Land Court are transferred using the deed and a transfer certificate of title (TCT). All encumbrances must be noted on the TCT.
Which of these activities would a principal broker most likely be required to perform in the proper supervision of associated licensees?
To train associated licensees on relevant real estate laws and rules, Principal brokers are responsible for their associated licensees' behavior related to license-law related activities.
Bobbie and Samantha enter into a contract for Samantha to purchase Bobbie's home. Bobbie decides he doesn't want to sell, and is elated when he finds out that Samantha is only 17 years old. Can Samantha force Bobbie to sell?
Yes, Samantha can require that Bobbie fulfill the contract terms., In the same way that a legally incompetent party can void a contract while the competent party cannot, a legally incompetent party can enforce a contract should the competent party wish to terminate.
Which of these borrowers would most likely be eligible for funding from the Hula Mae loan program?
essie has been saving her money and finally has enough for a down payment on her first home., Borrowers must meet age, income, and first-time homebuyer restrictions to qualify for Hula Mae loans.
Tua lives on Maui all year; he pays the property taxes on the condo where he's lived for over a year. He has a long-term (seven-year) lease. He's 65. He's eligible for ______
separate property tax exemptions. - Two, Tua is eligible for the standard exemption plus a senior exemption.