SB 1018: RELATING TO REAL ESTATE TRANSACTIONS.

A BILL FOR AN ACT

relating to real estate transactions.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The purpose of this Act is to require that in any advertising of real property adjacent to the shoreline, a seller and the seller's agent shall disclose complete and accurate information about any shoreline erosion issues related to the parcel.

     SECTION 2.  Section 508D-15, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

     "(b)  When residential real property lies adjacent to the shoreline, the seller and the seller's agent shall disclose, and include in all advertisements for the real property, all permitted and unpermitted erosion control structures on the parcel, expiration dates of any permitted structures, any notices of alleged violation associated with the parcel, and any fines for expired permits or unpermitted structures associated with the parcel."

     SECTION 3.  This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.

     SECTION 4.  New statutory material is underscored.

     SECTION 5.  This Act shall take effect upon its approval.

Report Title:

Real Property; Shoreline; Erosion; Disclosure

Description:

Requires a seller of real property adjacent to the shoreline, and the seller's agent, to disclose and include in all advertisements shoreline erosion certain issues related to the parcel.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.