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Category: Leasehold

What is leased fee interest?

Wednesday, November, 16th, 2022 at 8:33 pm by Richard S. Ekimoto, Esq.

The technical definition of “leased fee interest” is the Fee Simple interest in real property encumbered by a lease. Many people confuse “leased fee interest” and “fee simple interest”. If you own 100% of the interest in real property, you own the real property in fee simple. The owner of real property in fee simple can do many things with the property including selling the property, mortgaging the property or leasing the property. If the [Read More...]

Purchase of Leased Fee Interest by Condominium Association Upheld

Wednesday, November, 16th, 2022 at 8:32 pm by Richard S. Ekimoto, Esq.

On July 22, 2005, the Hawaii Supreme Court ruled in Association of Apartment Owners of Maalaea Kai, inc. v. Stillson that the purchase of the leased fee interest by the condominium association was proper. This is the second appeal in this case. The case began when Stillson failed to pay his maintenance fees. After several demands, the Association filed a notice of lien and then sought to foreclose the lien. Stillson claimed that the Association was prohibited from purchasing [Read More...]