REPORT TITLE: 
Real property exemption
DESCRIPTION:
Amends 651-92 to remove the cap on the market value of real
property that may be exempt from attachment or execution.

 
HB HMIA 99-298
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
HOUSE OF REPRESENTATIVES                H.B. NO.917        
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                     A BILL FOR AN ACT

RELATING TO AN EXEMPTION OF REAL PROPERTY FROM ATTACHMENT OR
   EXECUTION.



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


 1      SECTION 1.  Section 651-92, Hawaii Revised Statutes, is
 
 2 amended to read:
 
 3      "651-92  Real property exempt.(a)  Real property shall be
 
 4 exempt from attachment or execution as follows:
 
 5      (1)  An interest in one parcel of real property in the State
 
 6           of Hawaii, [of a fair market value not exceeding
 
 7           $30,000] regardless of value, owned by the defendant
 
 8           who is either the head of a family or an individual
 
 9           sixty-five years of age or older.
 
10      (2)  An interest in one parcel of real property in the State
 
11           of Hawaii, [of a fair market value not exceeding
 
12           $20,000] regardless of value, owned by the defendant
 
13           who is a person.
 
14 The fair market value of the interest exempted in paragraphs (1)
 
15 or (2) shall be determined by appraisal and shall be an interest
 
16 which is over and above all liens and encumbrances on the real
 
17 property recorded prior to the lien under which attachment or
 
18 execution is to be made.  Not more than one exemption shall be
 
19 claimed on any one parcel of real property even though more than
 

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 1 one person residing on such real property may otherwise be
 
 2 entitled to an exemption.
 
 3      Any claim of exemption under this section made before
 
 4 May 27, [1976] 1999, shall be deemed to be amended on May 27,
 
 5 [1976]1999, by 
 
 6 increasing the exemption to the amount permitted by this section
 
 7 on May 27, [1976] 1999, to the extent that such increase does not
 
 8 impair or defeat the right of any creditor who has executed upon
 
 9 the real property prior to May 27, [1976]1999.
 
10      (b)  No exemption authorized under this section shall apply
 
11 to process arising from:
 
12      (1)  A lien as provided by section 507-42;
 
13      (2)  A lien or security interest created by a mortgage,
 
14           security agreement, or other security instrument;
 
15      (3)  A tax lien in the name of the federal or state
 
16           government;
 
17      (4)  An improvement district lien of any county of the
 
18           State; or
 
19      (5)  A lien or encumbrance recorded against the real
 
20           property prior to the acquisition of interest in and
 

 
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                                     H.B. NO.917        
                                                        
                                                        

 
 1           commencement of residence on such real property." 
 
 2      SECTION 2.  Statutory material to be repealed is bracketed.
 
 3 New statutory material is underscored.
 
 4      SECTION 3.  This Act shall take effect upon its approval.
 
 5 
 
 6                         INTRODUCED BY:___________________________
 

 
HB HMIA 99-298