§667-34 - Foreclosure sale; conclusive presumptions. - Hawaii Statutes

     [§667-34]  Foreclosure sale; conclusive presumptions.  Unless an appeal is taken as set forth in section 667-35, any foreclosure sale held in accordance with this part shall be conclusively presumed to have been conducted in a legal, fair, and reasonable manner.  The sale price shall be conclusively presumed to be reasonable and equal to the fair market value of the property based on the circumstances and on the economic conditions at the time of the sale.  The statements in the recorded affidavit shall be conclusive evidence as to the facts stated therein for any purpose, in any court and in any proceeding, and in favor of bona fide purchasers and encumbrancers for value without notice.  The purchaser of the mortgaged property shall be conclusively presumed to be a bona fide purchaser.  Encumbrancers for value include liens placed by lenders who provide the purchaser with purchase money in exchange for a mortgage or other security interest in the newly-conveyed property. [L 1998, c 122, pt of §1]