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Lulu Williams R(B)
Coldwell Banker Island Properties
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HAWAII CONVEYANCE DOCUMENTS

Determining what kind of conveyance document to use in a transaction depends on a number of factors, including

a) whether you are conveying a fee simple or leasehold interest;

 b) whether you are conveying a condominium or time share unit; and

 c) the extent of warranties of title, if any, you will provide.

The following chart provides general summary descriptions of the types of conveyance documents available and when they are used. It is not intended to give legal advice.

You should always consult your lawyer or other qualified professional in determining which is appropriate.

DOCUMENTS TO CONVEY   PROPERTY IN FEE SIMPLE

DOCUMENT PURPOSE

Warranty Deed

To transfer legal title to fee simple property, other than a fee simple condominium apartment, along with certain guarantees regarding title, and the defense of that title. The guarantees are typically broad.

Warranty Deed with Satisfaction of Agreement of Sale

To transfer legal title to fee simple property by Warranty Deed along with the satisfaction of the terms of an agreement of sale between the parties (“vendor” and “vendee”).

Apartment Deed To transfer fee simple title to a condominium apartment.

Limited Warranty Deed

To transfer legal title to fee simple property, other than a fee simple condominium apartment, with certain limited guarantees regarding title and the defense of that title. These deeds are typically used by trustees or commissioners.

Limited Warranty Apartment Deed To transfer fee simple title to a condominium apartment by limited warranty deed. These deeds are typically by trustees or commissioners.

Quitclaim Deeds To transfer fee simple title without any warranties regarding the property. The grantor conveys only that interest, if any, the grantor may have in the property.

Quitclaim Apartment Deed To transfer fee simple title to a condominium apartment without any warranties.

DOCUMENTS TO CONVEY   LEASEHOLD INTERESTS IN PROPERTY

DOCUMENT PURPOSE

Assignment of Lease To transfer a residential (non-condominium) lease. A separate consent may be required by the terms of the lease

Assignment of Apartment of Lease

To transfer an apartment lease which consists of a leasehold interest in a condominium apartment and a leasehold interest in an undivided percentage interest in the common elements, including the land.

An “assignment” is used to transfer a leasehold interest from an “assignor” to an “assignee”. There are different types of assigments.

Apartment Deed and Assignment of Ground Lease

To transfer title to a condominium apartment in which fee simple title in the apartment is transferred along with an undivided percentage in the common elements (usually excluding the land); and undivided percentage interest in the ground lease is also assigned.

 
Coldwell Banker Island Properties
2436 South Kihei Rd. Suite A22
Kihei, HI 96753
Last modified 11/21/2008