Hawaii Dissolution of Pooled Unit (By Unit Owners)
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FAQ
What is a CPR and Should You Buy One? CPR stands for ?Condominium Property Regime.? A CPR is a legal mechanism for dividing property into two or more separate units of ownership. Each CPR unit has its own separate fee simple ownership (deed) and TMK number and can be separately sold or leased.
A CPR is a legal mechanism (Hawaii Revised Statutes SMB) for dividing a single property into 2 or more separate UNITS OF OWNERSHIP, typically with attached ?appurtenant? exclusive-use LIMITED COMMON ELEMENTS (yard areas).
For Homeowners Associations The Hawaii Planned Community Associations oversees the creation, management, authority, and operation of all homeowners associations as of June 16, 1997. You can find the provisions under the Hawaii Revised Statutes Sections 421J-1 through 421J-16.
A Condominium Declaration, also sometimes known as Master Deed, is a fundamental document that establishes the existence of and further governs the use and maintenance of a condominium property.
?Even though the price is higher than other locations, people love the convenience,? notes Campbell. ?They don't have to drive; they just go to the market at Whole Foods, the beach, restaurants and entertainment.? And, of course, condos in Hawaii offer incredible views of the ocean, mountains and Honolulu city lights.
Condominium Property Regime (CPR) is a type of ownership and governing process that is created when real property is submitted to the condominium property regime. It's a process that you may have heard as ?CPR-ing? a property. Here in Hawaii, the project has to contain two or more units as defined by statute.