Property Management
In Hawaii, a landlord who withholds a security deposit without providing an itemized statement within 14 days may be liable for:
AA. Only the original deposit amount
BB. The deposit amount plus damages up to three times the amount wrongfully withheld✓ Correct
CC. A $100 fine only
DD. Nothing unless the tenant files a lawsuit within 30 days
Explanation
Hawaii law imposes significant penalties on landlords who improperly withhold security deposits, including potential liability for up to three times the wrongfully withheld amount.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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