§480E-6 Distressed property conveyance contract. (a) A distressed property conveyance contract shall be in writing and shall fully disclose all rights and obligations of the distressed property purchaser and all distressed property owners and all terms of any agreements between the distressed property purchaser and all distressed property owners.
(b) Every distressed property conveyance contract shall specifically include the following terms:
"NOTICE REQUIRED BY HAWAII LAW
"NOTICE REQUIRED BY HAWAII LAW
(c) A distressed property conveyance contract shall contain on its first page in a type size no smaller than fourteen-point boldface type:
(d) A distressed property conveyance contract shall be dated and signed by the distressed property purchaser. If the distressed property purchaser is a person other than an individual, the individual executing the distressed property conveyance contract on behalf of the distressed property purchaser shall identify the title and office held by the individual.
(e) A distressed property conveyance contract shall be dated and signed by all owners of the distressed property.
(f) The distressed property purchaser shall provide each distressed property owner with a copy of the distressed property conveyance contract and attached notice of cancellation form immediately upon execution by all parties to the distressed property conveyance contract. A distressed property conveyance contract shall not be effective until all parties to the distressed property conveyance contract have signed the contract.
(g) Pursuant to chapter 501 or 502, the distressed property purchaser shall record the distressed property conveyance contract no earlier than fifteen days after its execution but no later than twenty days after its execution; provided that the contract has not been canceled, or no later than fifteen days after the last day any distressed property owner has the right to cure a default under state law, whichever is later. [L 2008, c 137, pt of §2; am L 2016, c 142, §7]