reglab/housing_qa huggingface dataset:
HI Rev Stat § 516-181 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516. Residential Leaseholds|516-181 Interest acquired.

  §516-181 Interest acquired. (a) Upon acquisition of the leased fee interest in a residential houselot from the proceeds of an eligible loan, the property interest acquired shall be all of the right, title, and interest of the fee owner and all legal and equitable owners, if any, in and to the residential houselot acquired, subject to all covenants, conditions, easements, reservations, and restrictions of record running with the land or contained in the agreement of sale, deed, or other conveyance held by the fee owner and legal and equitable owners. The acquisition of a leased fee interest in a residential houselot from the proceeds of an eligible loan shall terminate all the right, title, and interest of the fee owner and all legal and equitable owners, whether the interest be a remainder, vested or contingent, a reversion, or other beneficial interest in the property, present or prospective.  (b) If the leasehold on property acquired from the proceeds of an eligible loan is subject to any mortgage, lien, or encumbrance suffered or permitted by the eligible borrower, including, but not limited to, rights arising through divorce, marriage, or assignment, the purchase of the leased fee interest in such residential houselot in no manner shall affect or impair the mortgage, lien, or encumbrance or the security afforded thereby to the holder thereof, and the leasehold shall continue, notwithstanding the purchase of the leased fee interest in such residential houselot by the eligible borrower, for the purposes and to the extent necessary to avoid any impairment of leasehold security, unless the holder of the mortgage, lien, or encumbrance on such leasehold and the corporation in writing shall consent to the transfer thereof to the fee. Upon the written consent by the holder thereof and the corporation, each such mortgage, lien, or encumbrance to which the leasehold is subject and to which such consent refers shall be transferred to and shall bind the fee acquired by the eligible borrower, and thereafter shall continue in full force and effect as a mortgage, lien, or encumbrance of the fee acquired by the eligible borrower, in the same order and priority among such mortgages, liens, and encumbrances so transferred to the fee as the same applied to and bound the eligible borrower's immediate, previous leased fee interest. [L 1983, c 270, pt of §1; am L 1987, c 337, §16; am L 1988, c 104, §2; am L 2005, c 196, §26(b); am L 2006, c 180, §16]
HI Rev Stat § 516-182 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516. Residential Leaseholds|516-182 Restrictions on sale and use of residential lots acquired from proceeds of eligible loan.

  §516-182 Restrictions on sale and use of residential lots acquired from proceeds of eligible loan. No interest in property acquired from the proceeds of an eligible loan made under this part, so long as any part of such eligible loan is outstanding, shall be transferred unless contemporaneously with such transfer all interest in onsite improvements situated on such property are transferred to the same transferee. [L 1983, c 270, pt of §1]
HI Rev Stat § 516-186 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516. Residential Leaseholds|516-186 Construction.

  §516-186 Construction. The powers conferred by this part shall be in addition and supplemental to the powers conferred by any other law. The fee title acquisition loan programs authorized under this part may be undertaken, and revenue bonds may be issued under this part, notwithstanding that any other law may provide for a loan program similar to that authorized under this part, and may be undertaken for the issuance of bonds for like purposes, and without regard to the requirements, restrictions, limitations, or other provisions contained in any other law. Insofar as the provisions of this part are inconsistent with the provisions of any other law, this part shall be controlling. [L 1983, c 270, pt of §1]
HI Rev Stat § 516-201 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516. Residential Leaseholds|516-201 Exemption for sustainable affordable developments.

  §516-201 Exemption for sustainable affordable developments. Notwithstanding any law to the contrary, no lessee under a sustainable affordable lease may exercise the rights granted to a lessee by part II and sections 516-63, 516-65, and 516-66. The lessee under a sustainable affordable lease may exercise rights under section 516-70; provided that in no event shall compensation to the lessee for on-site improvements at the termination or expiration of the lease term exceed the lessee's share of the maximum sales price of a residential lot, including all buildings and improvements, on resale as determined pursuant to paragraph (2) of the definition of "sustainable affordable lease" in section 516-1. In addition, sections 516-5 and 516-83 shall not apply to the fee owner and lessor of land in a sustainable affordable development. [L 2005, c 197, pt of §2]
HI Rev Stat § 516-202 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516. Residential Leaseholds|516-202 Certification.

 §516-202  Certification. The lessor of a sustainable affordable development shall certify the lessor's qualification for the exemption established in section 516-201 at the time of the delivery of the first sustainable affordable lease by filing an affidavit with the registrar of the bureau of conveyances or assistant registrar of the land court, as appropriate, that:  (1) Declares the percentage of all the residential lots in the development tract that will have their initial sales prices limited in accordance with directly applicable state or county law, regulation, policy, or agreement, such that households earning not more than the required percentage of the median income for the applicable county will spend no more than the allowable percentage of their gross income for housing costs; provided that if the percentage of residential lots is less than thirty per cent, the state or county agency's approval thereof shall also be set forth;  (2) Declares the percentage of all the residential lots in the development tract that will have their initial sales prices and resale sales prices limited to eighty per cent of the fair market value of the residential lots in fee, including all buildings and improvements, unencumbered by the lease and describing the calculation of the difference; provided that if the percentage of residential lots is less than fifty-one per cent, the state or county agency's approval thereof shall also be set forth; and  (3) Sets forth the provisions in the sustainable affordable leases that limit the resale price of the residential lot, including all buildings and improvements, and entitle the lessor to a share of the appreciation in the residential lot, including all buildings and improvements. [L 2005, c 197, pt of §2]
HI Rev Stat § 516-203 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516. Residential Leaseholds|516-203 Recordkeeping.

  §516-203 Recordkeeping. A lessor of a sustainable affordable development shall maintain during the term of all sustainable affordable leases records regarding income levels and other qualifications of buyers of sustainable affordable leases at the time of purchase. [L 2005, c 197, pt of §2]
HI Rev Stat § 516-204 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516. Residential Leaseholds|516-204 University of Hawaii at Manoa.

  §516-204 University of Hawaii at Manoa. The legislature identifies the creation of a sustainable affordable development by or on land owned by or set aside to the University of Hawaii at Manoa to be a matter of statewide concern because of the built-up nature of the surrounding community. The University of Hawaii at Manoa shall not create a sustainable affordable development by entering into any sustainable affordable lease or by authorizing any land owned by or set aside to the University of Hawaii at Manoa to be demised under a sustainable affordable lease prior to enactment of a law specifically authorizing the University of Hawaii at Manoa to enter into a sustainable affordable lease or to demise any land owned by or set aside to the University of Hawaii at Manoa under a sustainable affordable lease. [L 2005, c 197, pt of §2]
HI Rev Stat § 516D-1 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516D. Residential Leasehold Condominiums and Cooperatives|516D-1 Applicability.

 §516D-1 Applicability. This chapter applies to all lands on which are situated either residential condominium property regimes created under chapter 514B or any predecessor thereto, or cooperative housing corporations, which are owned or held privately or by the State or by the counties, except Hawaiian home lands subject to article XII of the state constitution and lands owned or held by the federal government. [L 1989, c 168, pt of §4; ree L 1990, c 277, pt of §1; am L 2004, c 164, §23; am L 2008, c 28, §17; am L 2017, c 181, §35]
HI Rev Stat § 516D-11.5 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516D. Residential Leasehold Condominiums and Cooperatives|516D-11.5 Civil penalty. Failure to furnish disclosures substantially complying with the requirements of section 516D-11 shall entitle the buyer to the recovery of a civil penalty of $1,000 in any proceeding at law brought within one year of the violation and the violator shall be liable further for the actual damages of the buyer, if any, reasonable attorneys' fees and court costs. [L 1991, c 276, §7]

  §516D-11.5 Civil penalty. Failure to furnish disclosures substantially complying with the requirements of section 516D-11 shall entitle the buyer to the recovery of a civil penalty of $1,000 in any proceeding at law brought within one year of the violation and the violator shall be liable further for the actual damages of the buyer, if any, reasonable attorneys' fees and court costs. [L 1991, c 276, §7]
HI Rev Stat § 516D-12 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|516D. Residential Leasehold Condominiums and Cooperatives|516D-12 Mandatory arbitration of rent renegotiation.

  §516D-12 Mandatory arbitration of rent renegotiation. (a) Every residential lease shall contain a provision for the mandatory arbitration of any rent renegotiation reopening.  (b) In the event that a residential lease does not contain a mandatory arbitration provision, the following arbitration procedure shall apply:  (1) Rent shall be determined by three impartial arbitrators, who shall be recognized real estate appraisers;  (2) Each party shall select an arbitrator, both of whom shall select the third arbitrator;  (3) The three arbitrators shall determine the rent renegotiation which shall be final, conclusive, and binding on both parties; and  (4) Lessor and lessee shall each pay one-half of all proper costs and expenses other than attorneys' fees. [L 1989, c 168, pt of §4; ree L 1990, c 277, pt of §1] Cross References  Other arbitration procedures, see § §519-2, 519-3.
HI Rev Stat § 517-1 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|517. Disposition of Trust Real Property|517-1 Court approval of disposition of property under restraint.

  §517-1 Court approval of disposition of property under restraint. Notwithstanding any limitation in any instrument creating any estate or trust, whether or not eleemosynary or incorporated, and whether or not in effect prior to April 24, 1957, which forbids or restrains the sale of real property of such estate or trust or which limits the terms of lease of such property to periods less than fifty-five years, the trustees or officers of the estate or trust, with the approval of the court, may sell the real property of the estate or trust or may lease the same for periods up to fifty-five years whether or not the lease shall extend beyond the expiration date of the estate or trust. [L 1957, c 13, §2; Supp, §345A-2; HRS §517-1]
HI Rev Stat § 517-2 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|517. Disposition of Trust Real Property|517-2 Construction of wills and trust instruments.

  §517-2 Construction of wills and trust instruments. Whenever any will or trust instrument contains any provision restraining the free alienation of land or limiting the term of leases to the duration of the trust or to a term of less than fifty-five years and any such provision comes before the court for construction, all doubts shall be resolved against any such restraint or limitation, and doubts as to the existence of a power of sale or power to lease beyond the term of the trust shall be resolved in favor of the existence of such power. In all cases every will or trust instrument now in existence or hereinafter executed shall be construed in harmony with the public policy declared by this chapter. [L 1957, c 13, §3; Supp, §345A-3; HRS §517-2]
HI Rev Stat § 517-3 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|517. Disposition of Trust Real Property|517-3 Effect on existing and subsequent trusts.

  §517-3 Effect on existing and subsequent trusts. The legislature declares that if this chapter is held invalid or unconstitutional with respect to trusts and estates existing prior to April 24, 1957, it would have enacted this chapter as applicable to estates and trusts arising subsequent to April 24, 1957. [L 1957, c 13, pt of §4; Supp, §345A-4; HRS §517-3]
HI Rev Stat § 517E-1 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|517E. Uniform Prudent Management of Institutional Funds Act|517E-1 Short title.

 §517E-1 Short title. This chapter may be cited as the Uniform Prudent Management of Institutional Funds Act. [L 2009, c 135, pt of §1]
HI Rev Stat § 517E-2 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|517E. Uniform Prudent Management of Institutional Funds Act|517E-2 Definitions.

  §517E-2 Definitions. As used in this chapter, unless the context otherwise requires:  "Charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community.  "Community foundation" means a community foundation or community trust recognized as exempt from federal income tax and referred to in section 170(c) of the Internal Revenue Code of 1986, as amended, and which meets the single entity requirements of United States Treasury Regulations sections 1.170A-9(e)(10-14) adopted thereunder.  "Endowment fund" means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use.  "Gift instrument" means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund.  "Institution" means:  (1) A person, other than an individual, organized and operated exclusively for charitable purposes;  (2) A government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; or  (3) A trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated.  "Institutional fund" means a fund held by an institution exclusively for charitable purposes. The term does not include:  (1) Program-related assets;  (2) A fund held for an institution by a trustee that is not an institution, unless the fund is held exclusively for the benefit of a community foundation; or  (3) A fund in which a beneficiary that is not an institution has an interest, other than an interest that could arise upon violation or failure of the purposes of the fund.  "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.  "Program-related asset" means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment.  "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. [L 2009, c 135, pt of §1]
HI Rev Stat § 517E-4 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|517E. Uniform Prudent Management of Institutional Funds Act|517E-4 Appropriation for expenditure or accumulation of endowment fund; rules of construction.

  §517E-4 Appropriation for expenditure or accumulation of endowment fund; rules of construction. (a) Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment fund shall be donor-restricted assets until appropriated for expenditure by the institution. In making a determination to appropriate or accumulate, the institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, and shall consider, if relevant, the following factors:  (1) The duration and preservation of the endowment fund;  (2) The purposes of the institution and the endowment fund;  (3) General economic conditions;  (4) The possible effect of inflation or deflation;  (5) The expected total return from income and the appreciation of investments;  (6) Other resources of the institution; and  (7) The investment policy of the institution.  (b) To limit the authority to appropriate for expenditure or accumulate under subsection (a), a gift instrument shall specifically state the limitation.  (c) Terms in a gift instrument designating a gift as an endowment, or a direction or authorization in the gift instrument to use only "income", "interest", "dividends", or "rents, issues, or profits", or "to preserve the principal intact", or words of similar import:  (1) Create an endowment fund of permanent duration unless other language in the gift instrument limits the duration or purpose of the fund; and  (2) Do not otherwise limit the authority to appropriate for expenditure or accumulate under subsection (a). [L 2009, c 135, pt of §1]
HI Rev Stat § 517E-5 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|517E. Uniform Prudent Management of Institutional Funds Act|517E-5 Delegation of management and investment functions.

  §517E-5 Delegation of management and investment functions. (a) Subject to any specific limitation set forth in a gift instrument or otherwise provided by law, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, in:  (1) Selecting an agent;  (2) Establishing the scope and terms of the delegation consistent with the purposes of the institution and the institutional fund; and  (3) Periodically reviewing the agent's actions to monitor the agent's performance and compliance with the scope and terms of the delegation.  (b) In performing a delegated function, an agent owes a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.  (c) An institution that complies with subsection (a) shall not be liable for the decisions or actions of an agent to which the function was delegated.  (d) By accepting delegation of a management or investment function from an institution that is subject to the laws of this State, an agent submits to the jurisdiction of the courts of this State in all proceedings arising from or related to the delegation or the performance of the delegated function.  (e) An institution may delegate management and investment functions to its committees, officers, or employees as authorized by the laws of this State. [L 2009, c 135, pt of §1]
HI Rev Stat § 517E-6 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|517E. Uniform Prudent Management of Institutional Funds Act|517E-6 Release or modification of restrictions on management, investment, or purpose.

  §517E-6 Release or modification of restrictions on management, investment, or purpose. (a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction on the management, investment, or purpose of an institutional fund contained in a gift instrument. A release or modification shall not allow a fund to be used for a purpose other than a charitable purpose of the institution.  (b) The court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management or investment of an institutional fund if the restriction has become impracticable or wasteful, if it impairs the management or investment of the fund, or if, because of circumstances not anticipated by the donor, a modification of a restriction will further the purposes of the fund. The institution shall notify the attorney general of the application, and the attorney general shall be given an opportunity to be heard. To the extent practicable, any modification shall be made in accordance with the donor's probable intention.  (c) If a particular charitable purpose or a restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve, or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument. The institution shall notify the attorney general of the application, and the attorney general shall be given an opportunity to be heard.  (d) If an institution determines that a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible to achieve, or wasteful, the institution, without application to the court, but with the consent of the attorney general, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument if the fund subject to the restriction has a total value of less than $250,000.  (e) If an institution determines that a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible to achieve, or wasteful, the institution, sixty days after notification to the attorney general, may release or modify the restriction, in whole or part, if:  (1) The institutional fund subject to the restriction has a total value of less than $50,000;  (2) More than twenty years have elapsed since the fund was established; and  (3) The institution uses the property in a manner consistent with the charitable purposes expressed in the gift instrument. [L 2009, c 135, pt of §1]
HI Rev Stat § 517E-7 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|517E. Uniform Prudent Management of Institutional Funds Act|517E-7 Reviewing compliance.

  §517E-7 Reviewing compliance. Compliance with this chapter shall be determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight. [L 2009, c 135, pt of §1]