Hawaii State Real Estate Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Course
Hawaii State Real Estate
Institution
Hawaii State Real Estate
ERS loans are assumable by qualified persons. T or F - True.
What does the developer need to execute to establish a condo complex? - a declaration.
(containing # of units, buildings, and land info)
EMPLOYEE RETIREMENT SYSTEM (ERS) LOANS if leasehold, the terms of the lease must exceed the term
...
Hawaii State Real Estate Questions
ERS loans are assumable by qualified persons. T or F - True.
What does the developer need to execute to establish a condo complex? - a declaration.
(containing # of units, buildings, and land info)
EMPLOYEE RETIREMENT SYSTEM (ERS) LOANS if leasehold, the terms of the lease must exceed the term
of the loan by at least 5 years. - False. if leasehold, the terms of the lease must exceed the term of
the loan by at least 10 years
Someone manages real estate for one condo or coop association does not need a license. T or F -
False. Someone who manages real estate holding for one owner does not need a license, however
it does not apply to condo or coop associations.
Of the common protected classes in the Federal Fair Housing and Hawaii Discrimination Laws, how do
they differ in scope or the type of transactions covered? - Federal applies to housing only, Hawaii
Discrimination laws apply to all Real Estate transactions.
A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on an island
different from that of the principal place of business, provided that the salesperson or broker-
salesperson shall not maintain or advertise a place of business other than the principal place of business
- TRUE
A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on an island
different from that of the principal place of business, provided that any advertisements on an island
different from that of the principal place of business shall disclose the name of the brokerage firm and
the address and phone number of the principal place of business. - TRUE
A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on an island
different from that of the principal place of business, provided that all agency disclosures required by
section 16-99-3.1 shall include that the principal place of business is located on a different island. -
TRUE
, What kind of title does Vendee (buyer) initially receive in an agreement of sale? - Equitable Title
Which closing is the conveyance tax paid in an agreement of sale? - First closing
Which closing is legal title given in an Agreement of Sale? - 2nd closing, as Equitable is given in the
first closing.
Conveyand tax paid on Satisfaction of Agreement of Sale. T or F - False. It is paid on 1st closing
when purchased initally. It is also paid when conveyed by a General Warranty Deed.
Time share 7 right of recision allows who to cancel? - buyer or seller
Time share 7 right of recision should be written or just oral? - Both written and oral.
time share acquisition agents who are not licensed as sales persons still must be registered with the
Commission as a time share acquisition agent. T or F - TRUE
The maximum allowable rate for USERY loans (person to person) is - 1%/month OR 12%/year
The agent of a distressed listing cannot have interest in it how long after the listing agreement? -
365 days
DE MINIMUS STRUCTURE limits old survey erros starting at 3 inches for commercial, then... - 6
inches residential, 9" agricultural, 18" conservational
Can a landlord charge for a security deposit equal to 1 months rent plus a pet deposit if applicable? -
No. The deposit must not exceed 1 months rent period.
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