THE SENATE

S.B. NO.

31

THIRTY-SECOND LEGISLATURE, 2023

S.D. 1

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO ATTACHMENT AND EXECUTION OF REAL PROPERTY.

 

 

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

 

     SECTION 1.  The legislature finds that it has not increased the real property exemption amount from attachment or execution since 1978, and since that time inflation has risen by three hundred per cent.  Therefore, the purpose of this Act is to increase the exemption amount up to current valuation standards.

     SECTION 2.  Section 651-92, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

     "(a)  Real property shall be exempt from attachment or execution as follows:

     (1)  An interest in one parcel of real property in the State of Hawaii, of a fair market value not exceeding [$30,000,] $90,000, owned by the defendant who is either the head of a family or an individual sixty-five years of age or older.

     (2)  An interest in one parcel of real property in the State of Hawaii, of a fair market value not exceeding [$20,000,] $60,000, owned by the defendant who is a person.

The fair market value of the interest exempted in paragraph (1) or (2) shall be determined by appraisal and shall be an interest which is over and above all liens and encumbrances on the real property recorded prior to the lien under which attachment or execution is to be made.  Not more than one exemption shall be claimed on any one parcel of real property even though more than one person residing on such real property may otherwise be entitled to an exemption.

     Any claim of exemption under this section made before [May 27, 1976,] January 1, 2024, shall be deemed to be amended on [May 27, 1976,] January 1, 2024, by increasing the exemption to the amount permitted by this section on [May 27, 1976,] January 1, 2024, to the extent that such increase does not impair or defeat the right of any creditor who has executed upon the real property prior to [May 27, 1976.] January 1, 2024."

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

 

 

 

     SECTION 4.  This Act shall take effect on July 1, 2023.

 

 

 

Report Title:

Real Property; Exemption; Attachment; Execution

 

Description:

Increases the real property exemption amount for attachment or execution.  (SD1)

 

 

 

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