Hawaii Condominium – Condominium Creation in Hawaii
In Hawaii, creating a Condominium is a preferred, fast, and simple way to increase your property value, by dividing up the entire property into separate sellable Units, while establishing a set of rules and obligations for all the Unit Owners, on how you want the entire property utilized, managed, and maintained from then on. Condominiums…
FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies
FinCEN officially decided that the Corporate Transparency Act will no longer apply to entities created in the United States. FinCEN is currently issuing an interim final rule, and has announced and officially published on its website, that all entities created in the United States — including those previously known as “domestic reporting companies” — and…
CORPORATE TRANSPARENCY ACT BACK IN EFFECT AS OF FEBRUARY 18, 2025
What’s happening now with the Corporate Transparency Act (CTA)? As of February 18, 2025 Beneficial Owner Information Reports are once again mandatory and a new deadline has been given of March 21, 2025, for most non-exempt Reporting Companies to file their Beneficial Owner Information Reports with FinCEN, in order to avoid potential civil and criminal penalties…
Deeds with Separate Creditor Protections for Estate Planning
What are Separate Creditor Protections and when are they available to be included? When Tenancy is taken as Tenants by the Entirety, which is a tenancy option available only to married couples, civil union partners, and reciprocal beneficiaries. This tenancy is preferred as it protects Real Property against Separate Creditors, along with the rights of…
Quitclaim Deed vs Warranty Deed
What’s the Difference between a Quitclaim Deed and a Warranty Deed? A Deed is a document drafted by an Attorney, that transfers real property from a person or entity to another person or entity. A properly drafted Deed will describe the transferring parties, the type of conveyance, the consideration, the ownership interest being conveyed, any…
How do I protect my Assets from creditors?
ARE YOU INTERESTED IN PROTECTING YOUR ASSETS? Asset Protection is similar to an Estate Plan, but instead of simply avoiding Probate or creating a shield from only separate creditors, Asset Protection protects your Assets from all potential creditors. This process involves an individually tailored plan of protection, implemented around each of your specific Personal or…
Corporate Transparency Act: Beneficial Owner Information Reports now voluntary due to ongoing litigation
As of December 26, 2024, Reporting Companies are no longer required to file a beneficial ownership information report (BOIR) with the Financial Crimes Enforcement Network (FinCEN), and no Reporting Company will be subject to any civil or criminal liability for not filing a BOIR, as long as the order remains in effect. FinCEN is still…
Hawaii’s Bureau of Conveyances: Regular System, the Land Court, or the Dual Recording System
What is the difference between the Regular System and the Land Court Hawaii’s Bureau of Conveyances has two different recording systems, one is called the Regular System, and the other is called the Land Court System. Properties can also be in both Systems, also known as the Dual System. You will be required to record…
Corporate Transparency Act: Enjoined and Stayed
What happened to the Corporate Transparency Act (CTA)? On December 3, 2024, in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., a recent decision by the United States District Court EASTERN DISTRICT OF TEXAS SHERMAN DIVISION, granted a nationwide preliminary injunction, which has blocked the U.S. Department of Treasury from enforcing the Corporate Transparency Act’s…
Condominium Projects in Maui: what you need to know
What is a Condominium? A Condominium is created when a single entire property is divided into multiple Units, each Unit can then be separately sold, gifted, or mortgaged, and each individual Unit will have a separate TMK number, property tax assessment, and property value. All Units in a condominium also share a common ownership interest in the…