Haw. Code R. § 16-107-70
Current through April, 2024
Replacement reserve and contingency reserve funds which an association collects from apartment owners become the property of the association. An owner who sells an apartment shall have no right to reimbursement of the replacement reserve and contingency reserve funds from either the purchaser of the apartment or the association. The replacement reserve and contingency reserve funds shall not be conveyed or transferred separately from the apartment to which they relate. Instead, they shall be deemed conveyed or transferred with the apartment, even though they are not specifically mentioned in any conveyance, assignment, or transfer of the apartment.
Haw. Code R. § 16-107-70