HI Deed-Interval Warranty (Time Share) 1
(Interval I.D. No.(s): _____________)
This Deed takes effect on the _________ day of __________ 20______. It is made by and is binding on:
"Grantor". ___________________, (marital status).
"You". ____________________ and _____________________, husband and wife. Your address is _____________________________________________________.
Transfer of Ownership. In return for money or other valuable things which the Grantor has received from you, the Grantor transfers (or, in legal terms, "grants, bargains and sells") the following property (the "Property") to you:
All of the property described in Exhibit "A" which is attached to and is part of this deed. It includes, among other things, (i) A time interest or "Interval" in Apartment No.______ in the _______________________ condominium project; (ii) the rights and privileges that pertain to or otherwise go with the property described in Exhibit "A", and (iii) all rights of the Grantor in the property described in Exhibit "A:. If Exhibit "A: includes a list of "personal property" (things like build in furniture, attached fixtures, carpets, drapes, appliances, and so on), those items also are part of the "Property".
The Property is yours to keep forever (i.e. "in fee simple"). Of course, the Property is subject to the documents which created and which govern the condominium project (the "condominium documents") and the Royal Vacations Interval Ownership Plan (the "interval ownership documents").
Your Title. There are various ways for co-owners of real property to share the ownership or "title" to property. You have chosen to hold the Property as "Tenants by the Entirety", which means, among other things, that if one of you dies, the other automatically owns everything.
Grantor's Promises to You. Grantor promises you that: (1) Grantor now owns the Property; (2) Grantor has the right and authority to sell the Property to you; and (3) Except as stated in Exhibit "A", no one else has any rights or interests in the Property which would reduce its value or disturb your use and enjoyment of it.
Grantor agrees that Grantor will WARRANT and DEFEND Grantor's title to the Property. This means that if the Grantor's promises turn out to be untrue, Grantor will: (a) defend Grantor's title against any lawful claim by someone else; and (b) pay any damages you suffer from the loss of the Property or any interest in it if Grantor does not defeat the claim.
Your Promises and Agreements. You promise to obey and comply with the condominium documents and the interval ownership documents. You agree that if you break your promise you will pay all losses suffered by the Grantor as a result. Your promises in this paragraph are intended to benefit the Grantor and anyone who takes over the Grantor's rights or obligations with respect to the Property.
The Extent of Our Obligations. Both you and the Grantor are bound by and are intended to benefit from each other's promises and agreements in this document. The words "Grantor" and "you" (and any pronouns used in their place) are used in this document to mean and include (i) men or women, (ii) one or more (or a combination of) real people, companies or corporations, and (iii) anyone else who, by law, stands in the place of the Grantor or you. (Such people are sometimes called, in technical legal terms, "heirs", "devisees", "personal representatives", "successors", "successors in trust", and "assigns".)
Each person making up the "Grantor" or "you" will be jointly and severally (which means both independently and together as a group) obligated to keep their promises and agreements in this document.
BY SIGNING BELOW, we agree to all of the things stated above.
STATE OF HAWAII )
CITY AND COUNTY OF _______________)
On this ____________ day of __________, 20_______, before me personally appeared
_____________________, (marital status), and _____________________ and ________________________, husband and wife, to me known to be the persons described in and who executed the foregoing instrument, and acknowledged that they executed the same as their free act and deed.
NOTARY PUBLIC, State of Hawaii
My commission expires: ________________
No other guidelines are available for this form at this time.
No guidelines are available for this form at this time.