Property Ownership
In Hawaii, which instrument is used to transfer personal property (such as a boat, furniture, or appliances) separate from the real estate deed?
AA. A warranty deed with personal property addendum
BB. A bill of sale✓ Correct
CC. An assignment of interest
DD. A fixture filing under the UCC
Explanation
A bill of sale is the proper instrument for transferring ownership of personal property included in a real estate transaction, documenting what personal property is included.
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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).
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.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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