§501-101.5 Agreements of sale; priority. (a) The rights of a buyer under an agreement of sale which has been duly filed and noted on the certificate of title in accordance with this chapter shall be entitled to priority over the claim of any other person with respect to the real estate covered by the agreement of sale where such claim results:
(1) From a conveyance made to the claimant by the seller of the real estate covered by the agreement of sale if such conveyance was filed after the filing of the agreement of sale; or
(2) From a judgment in favor of the claimant against the seller affecting the real estate covered by the agreement of sale if the judgment or a notice of the action out of which the judgment arises was not filed prior to the filing of the agreement of sale.
(b) Upon the buyer's satisfaction of the agreement of sale, the claim or lien upon the real estate covered by the agreement of sale of any person who shall have such a claim resulting from a conveyance or a judgment referred to in subsection (a), shall be extinguished as to such real estate upon the filing of a transfer of title to such real estate from the seller to the buyer.
(c) For purposes of this section, the following definitions apply:
"Agreement of sale" means an executory contract for the sale and purchase of real estate which binds one party to sell and the other party to buy real estate which is the subject matter of the transaction, and in which the seller retains legal title to the real estate. As used in this section, an agreement of sale includes a subagreement of sale or subsequent subagreement of sale.
"Buyer" means the party who has agreed to purchase, and "seller" means the party who has agreed to sell the real estate pursuant to an agreement of sale, and includes each of their respective assignees and successors in interest in the agreement of sale.
"Conveyance" means every written instrument by which any estate or interest in real estate is voluntarily created, alienated, mortgaged, or encumbered, or by which title to any real estate may be voluntarily affected, other than wills.
"Filed" or "filing" means filed in accordance with this chapter.
"Real estate covered by the agreement of sale" means the real estate which the seller has agreed to sell and the buyer has agreed to buy pursuant to the agreement of sale, including any portion of or any interest in such real estate.
"Satisfaction of agreement of sale" means the full performance of the buyer's obligations under the agreement of sale, and:
(1) The buyer's compliance or tender of compliance with all of the buyer's filed written agreements and filed written consents, if any, with claimants whose claims are superior or subject to the rights of the buyer, and with all filed written directions, if any, of the seller to the buyer to make payments under the agreement of sale to a claimant or claimants;
(2) The buyer's compliance or tender of compliance with all orders, which have been filed, of any court of competent jurisdiction relating to the agreement of sale or to payments under or proceeds of the agreement of sale; and
(3) The buyer's payment of all periodic, interim, prepaid, and final payments under the agreement of sale.
If a claimant's claim or lien upon the real estate covered by the agreement of sale is extinguished according to this section before the claimant actually receives satisfaction of the claim or lien, the claim or lien shall be automatically transferred to the proceeds from satisfaction of the agreement of sale, in the same priority with respect to other transferred claims or liens on such real estate and with respect to other claims or liens on such proceeds, as the transferred claim or lien had immediately before such extinguishment. [L 1984, c 205, §1; am L 1985, c 247, §1]
Structure Hawaii Revised Statutes
501-1 Court; jurisdiction; proceedings; location; rules, practice, etc.
501-2 Judges; assignment of cases.
501-6 Registrar and assistants; appointment, tenure, powers, and duties.
501-7 Registrar; powers, duties.
501-8 Registrar may act in any circuit.
501-9 Assistant registrars; powers.
501-10 Registrar and assistants; oath, accounts, absence.
501-11 Examiners of title; appointment, removal.
501-13 Validity of facsimile signature.
501-21 Registration application; by whom made.
501-22 Filing; memorandum to be recorded.
501-23 Application, form, and contents.
501-23.5 Disposition of fees received at the bureau of conveyances.
501-25 Application may include several parcels.
501-26 Amendments to application.
501-29 Land subject to mortgage or lease.
501-31 Transfers pending application; temporary record; final record.
501-32 Reference to examiner; report; election to proceed.
501-42 Service; return day; further notice.
501-43 Guardian ad litem; compensation.
501-44 Contests not otherwise represented; duty of attorney general; res adjudicata when.
501-45 Answer intervention; surveyor to be heard when.
501-51 Reference to other judges or to master; maps, reference; subdivision; costs; etc.
501-53 Dismissal; effect; withdrawal, conditions.
501-64 Enforcement of decrees; bailiff.
501-71 Decree of registration; conditional when; quieting title, exceptions; reopened when.
501-72 Types of nonabsolute title.
501-73 Removing clouds on title.
501-75 Transcription of decree in registry; certificate of title.
501-81 Legal incidents of registered land.
501-82 Tenure of holder of certificate of title.
501-83 Certificate effective from transcription.
501-83.5 Outstanding owner's duplicate certificates.
501-84 Certificates, when two or more owners.
501-85 Substitution, one certificate for several, several for one; subdivisions, maps.
501-86 Registration runs with land.
501-87 No adverse possession or prescription.
501-88 Certificate as evidence.
501-89 Indexes, record books, etc.
501-101 Voluntary dealing with registered lands.
501-101.5 Agreements of sale; priority.
501-102 Filing liens, etc., notice.
501-103 Conveyances of less than fee simple.
501-104 Reference of doubtful questions.
501-105 Grantee's address, etc., to be stated.
501-106 Entry of new certificate.
501-107 Entry record; duplicates and certified copies.
501-108 Conveyance of fee; procedure.
501-109 Portion of registered fee.
501-110 Statement of encumbrances.
501-116 Mortgage registration necessary.
501-121 Leases; registration required.
501-131 Transfer in trust; procedure.
501-132 Powers to be noted on certificate; construction for court.
501-134 Trusts, implied or constructive.
501-135 Application by trustee.
501-136 Attachment and other liens; filing or recording of.
501-138 Discharge or modification of liens to be recorded.
501-139 Assistant registrar as official recorder.
501-140 Indorsement of and notices to plaintiff's attorney.
501-141 Court orders to be recorded.
501-144 New certificate after enforcement of lien; tax sale.
501-151 Pending actions, judgments; recording of, notice.
501-152 Certificate of judgment for defendant.
501-153 Certificate of judgment for plaintiff.
501-154 Writ of possession, service, time limit for registration.
501-155 Judgment directing conveyance.
501-157 Reregistration of mortgage or lease after partition.
501-158 Notice of bankruptcy proceedings.
501-166 Eminent domain; recording procedure.
501-167 New certificate upon reverter of land.
501-171 Registration upon transfer by descent and devise.
501-172 License to sell or mortgage, not affected.
501-173 Purchaser acquiring title through personal representative may have the same registered.
501-174 Power of attorney; registration necessary.
501-186 Registration of adverse claims; notice; hearing; costs.
501-196 Alterations upon registration book prohibited when; court hearings; limitations.
501-201 Service of notice after registration; how made; effect.
501-211 Fees required for protection against loss or damage.
501-212 Actions for compensation for fraud, mistake, etc.
501-213 Action, parties defendant.
501-214 Judgments, how satisfied.
501-215 Subrogation in favor of State.
501-216 State, not liable when.
501-217 Limitation of actions.
501-218 Schedule of fees; authority to amend.
501-219 Sale of land court maps.
501-231 Family child care homes; permitted use in residential areas.
501-232 Prohibition of transfer fees.
501-241 Leasehold time share interests.
501-242 Status of leasehold time share interest as real property.
501-243 Dual recording involving leasehold time share interests.
501-244 Assignment of leasehold time share interest.
501-245 Reference to recorded instruments pertaining to leasehold time share interests.
501-246 Legal incidents of a leasehold time share interest.
501-247 Voluntary dealing with a leasehold time share interest.
501-248 Jurisdiction for matters pertaining to leasehold time share interests.
501-261 Deregistration of fee time share interests.
501-261.5 Deregistration of registered land other than fee time share interests.
501-262 Effect of deregistration.
501-263 Effect of deregistration in specific cases.
501-264 Chain of title of deregistered land.
501-265 Status of fee time share interest and other interest in deregistered land as real property.
501-266 Dual recording involving deregistered land.
501-267 Reference to prior recorded instrument.
501-268 Legal incidents of deregistered land.
501-269 Jurisdiction for matters pertaining to deregistered land.