REPORT TITLE:
Real Property Exemptions


DESCRIPTION:
Changes real property exemption from a $30,000 cap to the
defendant's full interest in the property.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
THE SENATE                              S.B. NO.           11
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT
RELATING TO ATTACHMENT AND EXECUTION.



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

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

 
Page 2                                                     
                                     S.B. NO.           11
                                                        
                                                        

 
 1 than 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,] the effective date of this Act shall be deemed to
 
 5 be amended on [May 27, 1976,] the effective date of this Act by
 
 6 increasing the exemption to the amount permitted by this section
 
 7 on [May 27, 1976,] the effective date of this Act to the extent
 
 8 that such increase does not impair or defeat the right of any
 
 9 creditor who has executed upon the real property prior to
 
10 [May 27, 1976.] the effective date of this Act."
 
11      SECTION 2.  Statutory material to be repealed is bracketed.
 
12 New statutory material is underscored.
 
13      SECTION 3.  This Act shall take effect upon its approval.
 
14 
 
15                           INTRODUCED BY:_________________________