An instrument modifying or rescinding a contract should identify the contract with certainty. The parts of the contract to be changed should be clearly expressed, and the change itself clearly set forth. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Hawaii Addendum to Contract for the Price, Sale and Purchase of Residential Real Estate is a legally binding document that is designed to modify and provide additional terms and conditions to the original contract when buying or selling a residential property in Hawaii. This addendum is essential to address any specific requirements or regulations that are unique to the state of Hawaii and ensure a smooth transaction process. The Hawaii Addendum to Contract for the Price, Sale and Purchase of Residential Real Estate encompasses various aspects related to the purchase or sale of a residential property in Hawaii. It may include but is not limited to the following: 1. Hawaii Land Tenure: In Hawaii, there are different types of land tenure, including fee simple, leasehold, and Hawaiian Homelands. The addendum clarifies the type of land tenure associated with the property and outlines any specific terms or conditions related to it. 2. Property Condition: The addendum addresses the condition of the property, including any disclosures or requirements related to hazardous conditions, mold, or specific environmental concerns unique to Hawaii. 3. Closing Timeline: The timeline for closing the transaction in Hawaii can vary due to factors such as title searches, inspections, or specific lender requirements. The addendum may outline the agreed-upon closing period and any contingencies related to it. 4. Seller's Representation: The addendum may require the seller to provide representations and warranties related to the property, such as proper permits, compliance with local regulations, or disclosure of any pending litigation or code violations. 5. Exclusions and Inclusions: The addendum specifies any items that are included or excluded from the sale, such as appliances, fixtures, or personal property. This ensures clarity and avoids potential disputes. 6. Homeowner's Association (HOA): If the property is part of an HOA, the addendum may include information regarding association fees, covenants, conditions, and restrictions (CC&R), or any pending assessments. 7. Financing Contingencies: If the purchase is subject to financing, the addendum may address specific requirements or contingencies related to obtaining a mortgage or other means of financing the property. 8. Governmental Approvals: Hawaii may have unique requirements for permits or approvals, such as in areas of land use, conservation, or shoreline management. The addendum may outline any specific government-related requirements or approvals needed for the transaction. It is important to note that while the general structure and content of the Hawaii Addendum to Contract for the Price, Sale, and Purchase of Residential Real Estate are similar throughout the state, there may be variations or additional addenda depending on the specific county or island in Hawaii. These localized addenda may address specific regulations, zoning restrictions, or geological hazards that are unique to certain areas within the state.
