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Current as of January 01, 2025 | Updated by Findlaw Staff
From time to time during the first twenty years of the term of any lease, the lessee shall have the right to extend the lease term to fifty-five years, commencing on the first day of the calendar month in which the lessee gives written notice thereof to the lessor, subject to the following conditions:
(1) At the time the right to extend the lease is exercised, the unexpired term of the lease is less than fifty years;
(2) The extension is for the purpose of mortgaging the leasehold interest;
(3) The lessee is not then in default in any respect under the lease; and
(4) The notice is accompanied by payment of a reasonable service charge.
This section applies only to leases executed and effective subsequent to June 24, 1967.
Cite this article: FindLaw.com - Hawaii Revised Statutes Division 3. Property; Family § 516-65 - last updated January 01, 2025 | https://codes.findlaw.com/hi/division-3-property-family/hi-rev-st-sect-516-65/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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