New Law to Remove Timeshares from the Land Court in Hawaii

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Act 120, 2009 Session Laws of Hawaii allows owners of land registered in Land Court to request deregistration from Land Court and mandates that all timeshare interests registered in Land Court be deregistered from Land Court. These will take effect on July 1, 2011.

Timeshare Deregistration: Effective July 1, 2011, no documents affecting timeshare property will be accepted for recordation in the Land Court system. All timeshare documents will be recorded in the Regular system of the Bureau of Conveyances (“Bureau”) from July 1, 2011 forward.

Full Memo is attached to this thread...

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Will this make title changes quicker and cheaper or is it just a procedural change ?

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

According to the press release, this change is expected to reduce the backlog at the land courts (often exceeding 60 days currently)..

What it do expect it to accomplish is creating quite a bit of confusion for some time.. If anyone is currently involved in a transfer for a resort located in Hawaii, be sure to contact your closing agent and ensure they are aware of the procedure change and know what now needs to be done..

I've emailed Dave Heine, who owns PCS Title- an attorney run closing company that maintains multiple licenses and attorney relationships in multiple timeshare states including Hawaii- and asked him to add his thoughts about this change..

I've worked with him many times in the past and we've also spoken on the same panels several times at timeshare events- so I have great respect for his grasp on everything closing related. Hopefully he can help clarify what should actually be expected...

[Dave H Member Find all posts View Profile Close Dave H]

Rich and Group:

I have talked with our attorney in Hawaii. Basically, they have talked of deregulation for some time. Basically what it will boil down to as I understand it is that all timeshares will now be recorded only in the "regualr" system. Remember you have land court and the regular system.

Will it save any moeny, sure, if you had a resort that had to be recorded in both you will save the $25 that land court would have been.

Basically we have been told for the most part it is business as usual.

Dave