Completion of construction means the earliest of:• The issuance of a certificate of occupancy for the unit;• The date of completion for the project, or the phase of the project that includes the unit;• The recordation of the "as built" amendment to the declaration that includes the unit;• The issuance of the architect's certificate of substantial completion for the project, or the phase of the project that includes the unit; or• The date the unit is completed so as to __________________.

allow for the safe connection of power and utilities.

allow bank/lender approval of financing.

clear all outstanding liens if any.

Completion of construction means the earliest of:• The issuance of a ________________ for the unit;• The date of completion for the project, or the phase of the project that includes the unit;• The recordation of the "as built" amendment to the declaration that includes the unit;• The issuance of the architect's certificate of substantial completion for the project, or the phase of the project that includes the unit; or• The date the unit is completed so as to permit normal occupancy.

FHA or VA approval for financing

Completion of construction means the earliest of:• The issuance of a certificate of occupancy for the unit;• The ______________________, or the phase of the project that includes the unit;• The recordation of the "as built" amendment to the declaration that includes the unit;• The issuance of the architect's certificate of substantial completion for the project, or the phase of the project that includes the unit; or• The date the unit is completed so as to permit normal occupancy.

date of completion for the project

date of completion of all inspections

date of contingent approval for financing

date of completion for the project

effective date of phase completion

Completion of construction means the earliest of:• The issuance of a certificate of occupancy for the unit;• The date of completion for the project, or the phase of the project that includes the unit;• The _________________ amendment to the declaration that includes the unit;• The issuance of the architect's certificate of substantial completion for the project, or the phase of the project that includes the unit; or• The date the unit is completed so as to permit normal occupancy.

recordation of the certificate of occupancy

recordation of the "inspection approval"

recordation of the "FHA/VA" disclosure

Completion of construction means the earliest of:• The issuance of a certificate of occupancy for the unit;• The date of completion for the project, or the phase of the project that includes the unit;• The recordation of the "as built" amendment to the declaration that includes the unit;• The issuance of the _____________________ for the project, or the phase of the project that includes the unit; or• The date the unit is completed so as to permit normal occupancy.

architect's certificate of substantial completion

architect's certificate of plan approval

architect's certificate of substantial phase completion

architect's certificate of completion

architect's certificate of substantial completion

Condominium map means a map or plan of the ______________________ with all required information;

architect's drawings and blueprints

Converted or conversion means the submission of a structure to a condominium property regime more than twelve months after the completion of construction; provided that structures used as sales offices or models for a project and later submitted to a condominium property regime shall not be ______________________.

considered to be converted structures.

subject to another bank appraisal.

subject to any additional modifications.

considered to be converted structures.

subject to lender required repairs upon conversion.

Development rights means any right or combination of rights reserved by a developer in the declaration to:• Add real estate to a condominium;• Create units, common elements, or ________________ within a condominium;• Subdivide units, combine units, or convert units into common elements;• Withdraw real estate from a condominium;• Merge projects or increments of a project; or• Otherwise alter the condominium.

equally divided common elements

Hawaii Condominium Law (CPR) Pt-3

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| Written by Dpilgrim01

Dpilgrim01

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Quizzes Created: 2 | Total Attempts: 124

Questions: 62 | Attempts: 53 | Updated: May 18, 2023

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Hawaii Condominium Law (CPR) Pt-3 - Quiz

Hawaii Condominium Law continued.

Questions and Answers

Hawaii Condominium Law (CPR) Pt-3

Condominium map means a map or plan of the condominium property regime with all required information;

Condominium map means a map or plan of the ______________________ with all required information;

Converted or conversion means the submission of a structure to a condominium property regime more than twelve months after the completion of construction;

Converted or conversion means the submission of a structure to a condominium property regime more than __________________ after the completion of construction;

Declaration means any instrument, however denominated, that creates an owner's association, including any amendments to the said declaration.

Declaration means any legal instrument, however derived, that creates a condominium, including any amendments to the instrument.

Managing agent means any person retained, as a real estate professional, for the purpose of managing the sales and operation of the property.

Managing agent means any person retained, as an independent contractor, for the purpose of managing the operation of the property.

Master deed or master lease means any legal instrument or certificate showing the extent of the interest of the person submitting the property to the condominium property regime.

Material change means any change that directly, substantially, and adversely affects the use or value of a purchaser's unit or appurtenant limited common elements, or those amenities of the project available for the purchaser's use.

Operation of the property means the administration, fiscal management, and physical operation of the property, and includes the maintenance, repair, and replacement of, and the making of any additions and improvements to, the common elements.

A pertinent change constitutes a material change.

A pertinent change does not necessarily constitute a physical change.

A pertinent change does not necessarily constitute a __________________.

The provisions of the recodified CPR law HRS 514B apply to all condominiums created in Hawaii on or after July 1, 2006.

The provisions of the recodified CPR law HRS 514B apply to all condominiums created in Hawaii on or after _______________.

To create a condominium, a developer shall execute and record an acquisition of undeveloped land, together with a master deed or lease of the property, bylaws and a condominium property map.

To create a condominium, a developer shall execute and record a declaration, together with a master deed or lease of the property, bylaws and a __________________.

A declaration is the most important document in the creation of a condominium.

A ____________ is the most important document in the creation of a condominium.

A declaration is the most important document in the creation of a condominium and describes in detail or includes the following:• the land on which the condominium is to be (or has been) built;

A declaration is the most important document in the creation of a condominium and describes in detail or includes the following:• the land on which the condominium is to be (or has been) built;• the number of the county assessor's tax map filed concurrently with the declaration;

A declaration is the most important document in the creation of a condominium and describes in detail or includes the following:• the permitted and prohibited uses of each building;

A declaration is the most important document in the creation of a condominium and describes in detail or includes the following:• to the extent not shown on the tax map, a description of the location and dimensions of the horizontal and vertical boundaries of any unit;

A declaration is the most important document in the creation of a condominium and describes in detail or includes the following:• the common elements;

A declaration is the most important document in the creation of a condominium and describes in detail or includes the following:• the limited common elements, if any, and the units to which each is assigned;

A declaration is the most important document in the creation of a condominium and describes in detail or includes the following:• the total sum of the common interest that is required to approve rebuilding, repairing, or restoring the condominium if it is damaged or destroyed;

A declaration is the most important document in the creation of a condominium and describes in detail or includes the following:• a declaration that the condominium is in compliance with all zoning and building ordinances and codes and all other permitting requirements of the county;

A declaration is the most important document in the creation of a condominium and describes in detail or includes the following:• exemptions that have been granted or legal nonconforming conditions, uses or structures.

A condominium map shall be recorded with the declaration and contain:• a plot plan;• elevations and floor plans;

A condominium map shall be recorded with the declaration and contain:• the layout,_________________ , unit numbers and dimensions of the units;

A condominium map shall be recorded with the declaration and contain:• a _________ plan;

A condominium map shall be recorded with the declaration and contain:• the layout, _________________or other information identifying the limited common elements;

A condominium map shall be recorded with the declaration and contain:• a detailed description that identifies any ___________ that constitutes a limited common element.

Each unit shall have the limited common element it is assigned in the declaration.

A unit’s common interest shall be permanent and remain permanent, and may not be altered or partitioned without the consent of the unit owner and the owner’s mortgagees and recorded as an amendment to the declaration.