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+--- Thread: Land Transfer (/showthread.php?tid=2576)
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Land Transfer - pslamont - 09-04-2008
I have never made a direct purchase of land in Hawaii though I have done it in California. There we just needed an escrow agent, got title insurance and it was a done deal.
Here in Hawaii is Land Court. Doesn't that change things? Do I need an attorney? Any information would be helpful.
Pam
RE: Land Transfer - Bob Orts - 09-04-2008
quote:
Originally posted by pslamont
Here in Hawaii is Land Court. Doesn't that change things? Do I need an attorney? Any information would be helpful.
I believe Hawaii's Land Court is akin to Family Court, Tax Court, Criminal Court, Civil Court, etc. It handles cases dealing with land issues. So a land case will not go to Civil Court, it goes to Land Court, just like a Tax case won't go to Family Court it goes to Tax Court. Does that make sense?
RE: Land Transfer - pslamont - 09-04-2008
Yes, but my understanding is that land is/can be registered with land court that changes the paperwork needed to transfer land...?????
My point is, can I buy land from an individual with only en escrow agent or do I need an attorney?
RE: Land Transfer - missydog1 - 09-04-2008
While I am not a real estate agent, I have been through ten escrows in Hawai'i. None involved Land Court. As I understand it, there are two systems of land recording in Hawai'i. There is recording under Land Court, and under Bureau of Conveyances.
I'm pretty sure it depends on the actual parcel which entity is involved.
Land Court also handles title disputes, but I think that's separate from the recording issue.
I have never used an attorney when buying land here, but I've always worked with a real estate agent, who worked with escrow and title.
Interesting factoid I read recently is that if a property is recorded under Land Court it is not subject to adverse possession claims.
Pam, have you been informed that the land you wish to purchase is recorded under Land Court?
And is there a reason you're doing this without an agent?
RE: Land Transfer - leilaniguy - 09-04-2008
I bought a lot from a friend in 2000. He just called the title company that had handled his original purchase, they drew up the paperwork for about $150 at the time.
RE: Land Transfer - pslamont - 09-04-2008
Just condsiering buying land from a friend and wanted to save the agent fees. I am cheap.. and poor, bu also cheap
I did a deal in San Diego. The agent didnt do squat. Hired a woman to do his paperwork and we had to do stuff over and over because it wasn't right. As I read the paperwork, it seemed that 90% was to protect the real estate agent and company and only about 10% pertained to the sale. Infuriated me because he got about $12,000 in the deal. He didn't even "sell" it; we did. Ugh>...
cheap cheap cheap
RE: Land Transfer - missydog1 - 09-04-2008
Then, since it's a friend, ask them to check the Grant Deed and see if it's recorded under Land Court or the regular Recording bureau. Then you'll know if you have the more unusual situation to deal with.
The buyer doesn't pay commission, you know. In Hawai'i, there is a Purchase Contract that needs to be used, and it specifies how buyer and seller typically split the fees that are unavoidable. Transfer tax, title search, title insurance, etc.. Some fees are junk, or seem to be, and others you are stuck with, agent or no agent.
RE: Land Transfer - emorata - 09-04-2008
pam,
why don't you just use the title company that did the orginal recording from your friend the buyer so you can pull up the records and inspect any issues/liens, etc on the property before you close.....i've just done this directly with the title company.
although i did purchase a hawaii contract to fill out with both parties just to be on the safe side....you can always ask a friend to just help out with the contract...wink
noel
RE: Land Transfer - John S. Rabi - 09-04-2008
There are two recording systems in Hawaii, Regular and Land Court. Once a property is recorded in Land Court it can not be recorded in the regular system, while properties recorded in the regular system can be recorded in Land Court. You have a much greater protection if your property is recorded in Land Court. Don't try to save money, it will cost you more. Land Court has special requirements and if your Deed is not conforming to its regulations they will reject the recording. I wouldn't buy property without title insurance, so I would go through escrow; but if you do, you can have an attorney draw up the purchase contract and the deed. It should cost around $150 + $50 recording fee. (Forget the handwritten stuff!) [
]Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
RE: Land Transfer - pslamont - 09-04-2008
Thank you everyone. I know seller pays a lot of/most of those expenses, but let's face it.. sellers just up the price to cover it. I am cheap, remember? However, I expect to pay a few hundred.. that is no problem for escrow, recording, etc.... As a seller, I had to pay $800 just for title insurance on a condo that we owned free and clear, and that had been occupied by my mother-in-law for over 20 years. Ugh....
I love Punaweb.. you all just seem to share general information so well. It's not that this answers all the questions but it is informative enough to allow us to know WHAT to ask and what issues to consider.
Gosh, I love you guys!