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Governor Signs New Law Restoring Seller Financing
July 10, 2015

Governor Signs New Law Restoring Seller Financing 

Last year, the Legislature amended Hawaii's SAFE Act through Act 198, Session Laws of Hawaii 2014. The amendments, in part, removed the exemption that allowed ordinary property owners to provide seller financing of the individual's residence or on behalf of an immediate family member. This was a concern because sellers were not able to provide seller financing, and it was unclear whether real estate licensees would be able to assist the seller, even if they were still exempt as a licensee.

HAR introduced legislation to restore the seller financing exemption and we are proud to report that it has been signed by the Governor today.  This law is effective as of July 9, 2015, as Act 225.

Because of the details of the new law, we have linked the new law and provided a white paper from legal counsel which covers the new law, standard form changes to address the new law and practical considerations for REALTORS®:

   * Read the new law

   * Read the white paper

Blogs for July 2015



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