Hawaii License Law
Which of the following is a unique characteristic of real estate ownership common in Hawaii?
ATenancy in severalty is prohibited
BLeasehold estates are widely used for residential property✓ Correct
CFee simple ownership is not recognized
DAll condominiums must be owner-occupied
Explanation
Hawaii has a long history of leasehold land ownership, where buyers own the improvements but lease the land from a landowner (often descended from the original royal land grants). Leasehold estates are far more common in Hawaii than in most other states.
People Also Study
Related Hawaii Questions
- When a Hawaii leasehold owner's ground lease expires, what typically happens to the improvements on the land?Property Ownership
- In Hawaii, what is the most common form of leasehold ownership, especially in Honolulu?Property Ownership
- What is a preliminary title report in a Hawaii real estate transaction?Escrow & Title
- In Hawaii, what is the most common form of leasehold ownership, especially in Honolulu?Property Ownership
- In Hawaii, leasehold ownership means the buyer:Property Ownership
- A Hawaii leasehold property has 35 years remaining on the ground lease with annual rent of $12,000/year. How much total ground rent remains?Real Estate Math
- A Hawaii leasehold property has 40 years remaining on the lease with annual rent of $6,000 that resets to market in 10 years. Current market ground rent would be $18,000/year. What is the approximate annual leasehold rent savings for the first 10 years?Real Estate Math
- Which penalty may the Hawaii Real Estate Commission impose on a licensee found guilty of misrepresentation?Hawaii License Law
Key Terms to Know
Fee Simple
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
State-Specific Concepts
License Law
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →