HB576

Hawaii HB576 amends restrictions on the transfer of real property under Chapter 201h, Hawaii Revised Statutes.

Hawaii HB576 modifies the restrictions on the transfer of real property developed and sold under Chapter 201h, Hawaii Revised Statutes. The bill specifies that for ten years after the purchase, the purchaser cannot transfer title to the real property unless the corporation or a qualified nonprofit housing trust purchases it first. The bill also outlines the conditions under which the corporation can waive these restrictions, including compliance with federal law or regulations.