Hawaii real estate quiz - Study guides, Class notes & Summaries

Land ownership documents are recorded in the public record at Bureau of Conveyances in Honolulu The land classification containing the smallest amount of land state-wide is Rural A division of land extending from the top of the mountain to the ocean is called Ahupua'a A husband or wife may claim a 1/3 elective share of the other's estate at the decedent's death under what code? Under Hawaii's Uniform Probate Code for properties sold after July 1, 1977. Under Hawaii's Uniform Proba...

Personal Property Movable objects (chattels) that do not fit into the definition of real property; conveyed by bill of sale. Fixture An item of personal property that has been converted to real property by being permanently affixed to the land or building. Can be either attached or annexed. Metes and Bounds To locate a property boundary requires two permanent reference markers; The boundary is measured from a specific point of beginning and proceeds around the boundaries using reference...

When land is necessary for the protection of water supplies, watershed, and water resources, the land use designation would likely be: A) Rural B) Urban C) Conservation D) Agricultural C) Conservation Conservation or preservation land is designated to protect the environment and for the enjoyment of natural surroundings. An example of a right, privilege or improvement that belongs to and passes with a property is described as a(n): A) Emblement B) Appurtenance C) Restriction D) E...

Which of the following is true with regard to timeshare sales? Within seven calendar days after the execution of the contract to purchase an interest in a timeshare plan or receipt of a disclosure statement, whichever occurs later, either party may cancel the contract without penalty. If 40% or more of a condominium project has been sold and recorded, the first meeting of a condominium unit owners' association must be held within how many days after the recordation of the first unit ...

ands extending inland from the shoreline as delineated on the maps filed with the counties Special Management Area (SMA) 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 ...

What is the definition of a Broker? A direct agent of the principal who is hired for compensation to perform a stated services such as procuring a customer. Define Brokerage. The business of procuring customers on behalf of clients for the purpose of completing a real estate transaction. What is Common Law? A body of law developed by court judgments, decrees, or case decisions. Define Property Management. The business of managing the physical and financial condition of an investment p...