HAR §15-308-102. Applicability

This subchapter shall apply to all dwelling units developed, sold, or sponsored by the corporation and for which all restrictions set forth in section 201H-47, HRS, including the right to repurchcw~ restriction are in effect. [Eff 1/15/22; comp utC 102022 ] (Auth: HRS §201H-4) (Imp: HRS §201H-4 7) §15-308-103 Corporation's percentage share of net appreciation. (a) As the corporation is providing the opportunity for the purchaser to buy a home below fair market value, the purchaser shall pay the corporation its share of the net appreciation when the property is transferred or sold. The appraisal 308-40 its share of net appreciation when the property is transferred as the result of the foreclosure sale . (C) I f the corporation ' s share is not paid when due , interest on the corporation ' s amount will accrue interest at the simple annual rate of twelve per cent until paid . The corporation shall pursue foreclosure or legal action . [Eff 1 / 1 5 /22 ; am and comp DEC 1 C 2022 1 (Auth : HRS §201H-4 ) ( Imp : HRS §§20 1H-107 , 2 0 1H-4 7 , 2 01H-4 9 , 2 0 1H-51 ) SUBCHAPTER 6 SHARED APPRECIATION EQUITY PROGRAM RESTRICTIONS