Real Estate Law Flashcards

In Hawaii, what is the effect of a "right of first refusal" clause in a real estate contract?

Answer: It allows the tenant to purchase the property before the owner sells it to someone else.

A 'right of first refusal' clause in a real estate contract grants a specific party, often a tenant, the option to match any bona fide offer made by a third party to purchase the property. This means the owner must offer the property to the holder of the right before selling it to anyone else, giving them the first opportunity to buy.

Which of the following is required to create a valid deed in Hawaii?

Answer: Delivery and acceptance of the deed

For a deed to be valid and effectively transfer title in Hawaii, it must be delivered by the grantor with the intent to transfer ownership and accepted by the grantee. While recording is highly recommended for public notice and protection against subsequent claims, it is not a prerequisite for the deed's validity between the parties.

What type of tenancy is created when two or more people own property together with equal shares and the right of survivorship in Hawaii?

Answer: Joint tenancy

Joint tenancy is a form of co-ownership characterized by the 'four unities' (possession, interest, time, and title) and, crucially, the right of survivorship. This means that upon the death of one joint tenant, their interest automatically passes to the surviving joint tenant(s) without the need for probate.

What must a landlord provide to a tenant before entering into a lease agreement under Hawaii’s landlord-tenant code?

Answer: A copy of the lease agreement and the landlord's contact information

Hawaii's landlord-tenant code requires landlords to provide tenants with essential information before entering a lease agreement. This includes a complete copy of the written lease agreement and the landlord's contact information, ensuring transparency and enabling proper communication regarding the tenancy.

In Hawaii, which of the following actions requires a real estate license?

Answer: Managing rental properties for others

In Hawaii, engaging in real estate activities for compensation on behalf of others, such as managing rental properties, typically requires a real estate license. This is because these activities fall under the definition of real estate brokerage services, which are regulated to protect the public.