This Agreement takes effect on the _________ day of __________ 20______. It is made by and is binding on:
"Grantor". __________________, (marital status).
"You". _____________________, (marital status) and ___________________, (marital status). Your residence and post office address is _______________________________________________________________.
Transfer of Ownership. In return for money or other valuable things which the Grantor has received from you, the Grantor sells, transfers and delivers the following property (the "Property") to you:
All of the property described in Exhibit "A" which is attached to and is part of this document. It includes, among other things, (i) Apartment No._____ in the ___________________________ condominium project (the "project"); (ii) An undivided interest (a share in the ownership) of all parts of the project except the other apartments and the land; (iii) A lease of a share in the ownership of the land on which the project sits; (iv) All rights and privileges that pertain to or otherwise go with (i), (ii), and (iii); and (v) all rights of the Grantor in (i), (ii), and (iii). If Exhibit "A" includes a list of "personal property" (things like build in furniture, attached fixtures, carpets, drapes, appliances, and so on), those items also are part of the "Property".
The Property is transferred to you subject to the obligations to pay the rents called for in the lease and to perform the duties of the tenant under the lease. Of course, the Property is subject to the documents which created and which govern the condominium project (the "condominium documents").
The lease is yours to keep until the date it is scheduled to expire. Everything else is yours to keep forever
Your Title. There are various ways for co-owners of real property to share the ownership or "title" to property. You have chosen to hold the Property as "Joint Tenants", which means, among other things, that if one of you dies, the other automatically owns everything.
Grantor's Promises to You. Grantor promises you that: (1) Grantor now owns the Property; (2) The lease described in Exhibit "A" is in full force and effect, and is not in default; (3) Grantor has the right and authority to sell the Property to you; and (4) Except as stated in Exhibit "A", no one else has any rights or interests in the Property which would reduce its value or disturb your use and enjoyment of it.
Grantor agrees that Grantor will WARRANT and DEFEND Grantor's title to the Property. This means that if the Grantor's promises turn out to be untrue, Grantor will: (a) defend Grantor's title against any lawful claim by someone else; and (b) pay any damages you suffer from the loss of the Property or any interest in it if Grantor does not defeat the claim.
Your Promises and Agreements. You promise (1) to obey and comply with the lease faithfully; (2) to obey and comply with the condominium documents faithfully; and (3) to pay, on time, the rent and other charges due under the lease. You agree that if you break your promise(s) you will pay all losses suffered by the Grantor or the Landlord as a result. Your promises in this paragraph are intended to benefit both the Grantor and the Landlord, and anyone who takes over their rights or obligations with respect to the Property.
The Extent of Our Obligations. Both you and the Grantor are bound by and are intended to benefit from each other's promises and agreements in this document. The words "Grantor", "Landlord", and "you" (and any pronouns used in their place) are used in this document to mean and include (i) men or women, (ii) one or more (or a combination of) real people, companies or corporations, and (iii) anyone else who, by law, stands in the place of the Grantor, the Landlord, or you. (Such people are sometimes called, in technical legal terms, "heirs", "devisees", "personal representatives", "successors", "successors in trust", and "permitted assigns".)
Each person making up the "Seller" or "you" will be jointly and severally (which means both independently and together as a group) obligated to keep their promises and agreements in this document.
BY SIGNING BELOW, we agree to all of the things stated above.
STATE OF HAWAII )
CITY AND COUNTY OF _______________)
On this ____________ day of __________, 20_______, before me personally appeared
_____________________, (marital status), ____________________, (marital status) and _______________________,(marital status), to me known to be the persons described in and who executed the foregoing instrument, and acknowledged that they executed the same as their free act and deed.
NOTARY PUBLIC, State of Hawaii
My commission expires: ________________
For Hawaii notaries, the typed or printed name of the notary must accompany the notary's official signature. For recording purposes in Hawaii, any erasures, additions, "white-outs", or interlineations on the original document must be initialed by the Hawaii notary. If the notary is from outside Hawaii, either the initials of the parties to the document or the initials of the notary public must be affixed alongside each change.
It is important to describe the apartment unit as well as the lease being transferred in the legal description. It will not be sufficient to simply describe the land in the legal description. No other guidelines are available for this form at this time.
No guidelines are available for this form at this time.