Haw. Code R. § 15-307-147 - Former owner's right of first refusal
(a) A former owner
of a dwelling unit shall have the right of first refusal regarding the resale
by the corporation of a dwelling unit repurchased from him or her under this
subchapter; provided, however, that the former owner has not yet purchased a
dwelling unit pursuant to section 15-307-148.
(b) Under this section, after a dwelling unit
repurchased from the former owner by the corporation under this subchapter is
repaired, the corporation shall first offer the dwelling unit for sale to the
former owner for a price equal to the repurchase price paid by the corporation
for the dwelling unit and subject to the restrictions set forth in sections
201H-47
and
201H-34,
HRS, and the shared appreciation program restriction in effect at the time of
repurchase. If the former owner rejects the offer. then the corporation may
offer the dwelling unit for sale to persons other than the former owner at the
price and subject to the restrictions set forth in this subsection.
(c) If the corporation is unable to sell the
dwelling unit under the terms and conditions set forth in subsection (b), then
the corporation may offer the dwelling unit for sale under new terms and
conditions that may differ from those specified in subsection (b); provided,
however, that the corporation shall first offer the dwelling unit for sale to
the former owner under the new terms and conditions. If the former owner
rejects the offer, then the corporation may offer the dwelling unit for sale to
persons other than the former owner under the new terms and conditions.
Notes
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