Property Ownership
What is a 'condominium association' and what powers does it have under Hawaii's Condominium Property Act?
AA. A voluntary organization that property owners may join if they choose
BB. A mandatory organization of all unit owners that manages common elements, enforces governing documents, and levies assessments✓ Correct
CC. A government entity managing affordable housing projects
DD. A private company hired to manage condominium buildings
Explanation
Under Hawaii's Condominium Property Act (HRS Chapter 514B), all unit owners are mandatory members of the condominium association. The association (through its board of directors) manages and maintains common elements, enforces the CC&Rs and bylaws, levies maintenance fees and special assessments, and has lien rights for unpaid assessments.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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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