Report Title:

Real Estate Sales; Licenses; Exemptions

 

Description:

Exempts an owner of a timeshare interest who refers a prospective purchaser to a developer, sales agent, or resales agent of a timeshare plan from the requirement of being a licensed real estate broker or salesperson if the person receives a fee of not more than $1,000.

 

HOUSE OF REPRESENTATIVES

H.B. NO.

16

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to real estate brokers and salespersons.

 

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

SECTION 1. Section 467-2, Hawaii Revised Statutes, is amended to read as follows:

"§467-2 Exceptions. The provisions requiring licensing as a real estate broker or salesperson shall not apply:

(1) To any individual who, as owner of any real estate or acting under power of attorney from the owner, performs any of the acts enumerated in the definitions of real estate broker and real estate salesperson with reference to such real estate; provided that the term "owner" as used in this paragraph shall not include any individual engaged in the business of real estate development or brokerage or include an individual who acquires any interest in any real estate for the purpose or as a means of evading the licensing requirements of this chapter; and provided further that the term individual "acting under power of attorney" as used in this paragraph shall not include any individual engaged in the business of real estate development or brokerage or any individual who acts under a power of attorney for the purpose or as a means of evading the licensing requirements of this chapter;

(2) To any person acting as a receiver, trustee in bankruptcy, personal representative, or trustee acting under any trust agreement, deed of trust, or will, or otherwise acting under any order of authorization of any court;

(3) To any individual who leases, offers to lease, rents, or offers to rent, any real estate or the improvements thereon of which the individual is the custodian or caretaker;

(4) To any person who manages, rents, or operates a hotel; [or]

(5) To any provider agency owning, leasing, operating, or managing a homeless facility, or any other program for the homeless authorized under part IV of chapter 201G[.]; or

(6) To any owner of a time share interest who refers a prospective purchaser to the developer, sales agent, or resales agent of a time share plan duly registered under chapter 514E provided that any fee paid to the owner shall not exceed $1,000 in cash, credit, or other money compensation during any twelve-month period; provided that a person who is not licensed pursuant to this chapter shall not advertise or promote the person's services in procuring or assisting to procure prospective time share interest purchasers.

For purposes of this paragraph "fee" means cash, credit, or nonmonetary compensation paid to a person who is not licensed pursuant to this chapter, who owns a time share interest and who provides the name and address of a prospective purchaser to the developer of the time share plan in which the owner previously purchased a time share interest."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

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