Property Ownership
In Hawaii, which form of business entity may own real property and requires a deed conveying title to the entity, not to individual owners?
AA. A general partnership where one partner holds title
BB. A limited liability company (LLC), corporation, or other entity that holds title in the entity's name✓ Correct
CC. A joint venture where each venturer takes title separately
DD. A trust where the beneficiaries hold individual title
Explanation
LLCs, corporations, and similar entities can hold real property title in the entity's name. A deed conveys title to the entity (e.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
EasementA non-possessory right to use another person's land for a specific purpose.
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