Haw. Rev. Stat. § 206-32
This is the official text of Haw. Rev. Stat. § 206-32, part of Hawaii’s Rev. Stat — part of the compiled statutory law of Hawaii, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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Subordination of mortgage to agreement with government.
Official statutory text
The board of land and natural resources may agree in any mortgage made by it that the mortgage shall be subordinate to a contract for the supervision by a government of the operation and maintenance of the mortgaged property and the construction of improvements thereon. In that event, any purchaser or purchasers at a sale of the property of the board pursuant to a foreclosure of the mortgage or any other remedy in connection therewith, shall obtain title to the contract.
Status: in_force · Read it on the official government site
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