§501-261 - Deregistration of fee interests. - Hawaii Statutes

Part II.  DEREGISTRATION

 

Note

 

  Part effective July 1, 2011 and repealed December 31, 2014.  L 2009, c 120, §21.

  The $5 recording fee for deregistered land transactions is repealed on adoption of administrative rules.  L 2009, c 120, §§16, 21.

  Two year pilot program effective January 1, 2012 for electronic recording of fee time share interests.  L 2009, c 120, §§17, 21.

 

     [§501-261]  Deregistration of fee interests.  (a)  Upon presentation to the assistant registrar for filing or recording of any instrument, document, or paper conveying or encumbering a fee time share interest or any interest therein, or upon the written request under subsection (d) of the registered owner of the fee interest in registered land, the assistant registrar shall not register the same, but shall:

     (1)  Record in the bureau of conveyances, pursuant to chapter 502, the current certificate of title for the fee interest in the registered land or the registered land in which the fee time share interest includes an undivided interest; provided that:

         (A)  Prior thereto, the assistant registrar shall note on the certificate of title all documents and instruments that have been accepted for registration and that have not yet been noted on the certificate of title; and

         (B)  If separate certificates of title have been issued for individual fee time share interests in the time share plan, the assistant registrar shall record in the bureau of conveyances, pursuant to chapter 502, the certificate of title for each fee time share interest in the time share plan;

     (2)  Record in the bureau of conveyances, pursuant to chapter 502, the instrument, document, paper, or written request for deregistration presented to the assistant registrar for filing or recording.  The instrument, document, paper, or request shall be recorded immediately after the certificate or certificates of title; and

     (3)  Cancel the certificate of title.

     (b)  The registrar or assistant registrar shall note the recordation and cancellation of the certificate of title in the registration book and in the records of the application for registration of the land that is the subject of the certificate of title.  The notation shall state the bureau of conveyances document number for the certificate of title so recorded, the certificate of title number, and the land court application number, map number, and lot number for the land that is the subject of the certificate of title so recorded.

     (c)  No order of court shall be required prior to or in connection with the performance of any of the foregoing actions.

     (d)  The registered owner of the fee interest in registered land may submit a written request to the assistant registrar to deregister the land under this chapter.  Any written request for deregistration shall include proof of title insurance in the amount of the value of the land to be deregistered and a written waiver of all claims against the State relating to the title to the land arising after the date of deregistration. [L 2009, c 120, pt of §2]