Bill Text: HI HB2557 | 2014 | Regular Session | Introduced
Bill Title: Foreclosure; Associations
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2014-02-26 - The committee(s) on CPC recommend(s) that the measure be deferred. [HB2557 Detail]
Download: Hawaii-2014-HB2557-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2557 |
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TWENTY-SEVENTH LEGISLATURE, 2014 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to Foreclosure.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 667-92, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:
"(a) When a unit owner
has failed to pay an assessment[, and when], the association shall
not conduct a power of sale foreclosure under this part unless the assessment
is greater than the total of any amounts owed by the association to the unit
owner and the association first offsets any amounts that it owes to the unit
owner against the amount of the assessment. If the association intends to
conduct a power of sale foreclosure under this part, the association shall
prepare a written notice of default and intention to foreclose addressed to the
unit owner. The notice of default and intention to foreclose shall state:
(1) The name and address of the association;
(2) The name and last known address of the unit owners;
(3) With respect to the unit, the address or a description of its location, tax map key number, and certificate of title or transfer certificate of title number if registered in the land court;
(4) The description of the default or, if the default is a monetary default, an itemization of the delinquent amount;
(5) The action required to cure the default, including the delinquent amount and the estimated amount of the association's attorney's fees and costs, and all other fees and costs related to the default estimated to be incurred by the association by the deadline date;
(6) The date by which the default must be cured, which shall be within sixty days after service of the notice of default and intention to foreclose;
(7) A statement that if the default is not cured by the deadline date stated in the notice of default and intention to foreclose, the entire unpaid balance of the moneys owed to the association will become due, that the association intends to conduct a power of sale foreclosure to sell the unit at a public sale without any court action and without going to court, and that the association or any other person may acquire the unit at the public sale;
(8) A statement that if the default is not cured by the deadline date stated in the notice of default and intention to foreclose, the association may publish the public notice of the public sale in a newspaper of general circulation or on a state website, pursuant to section 667-96(d);
(9) The name, address, electronic address, and telephone number of the attorney who is representing the association; provided that the attorney shall be licensed to practice law in the State and physically located in the State; and
(10) Notice of the right of the unit owner to submit a payment plan within thirty days pursuant to subsection (c)."
SECTION 2. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Foreclosure; Associations
Description:
Requires an association to offset any amount that it owes a unit owner against the amount of the assessment prior to an alternative power of sale foreclosure.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
