§506-2 On what property; enforceability.
213 words·~1 min read·
/hi/chapter-506/506-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§506-2 On what property; enforceability.
(a)Subject to the limitations contained in this chapter and to sections 490:9-334 and 490:9-604 of the Uniform Commercial Code respecting security interests in fixtures, if the mortgage so provides, the lien of the mortgage may attach to additions, improvements, and purchases or substitutions made to supply the place of any real property or fixtures disposed of and to all other after-acquired real property or fixtures referred to in the mortgage when the mortgagor acquires an interest therein to the extent of the interest, but subject to existing liens and the lien of a purchase money mortgage given by the mortgagor of any such after-acquired real property or fixtures.
(b)Any mortgage, except to the extent provided in this chapter, shall be enforceable against the mortgagor, creditors of the mortgagor, and against subsequent purchasers, mortgagees, assignees, and transferees, who take without valuable consideration or with notice, actual or constructive, even though the mortgaged real property or fixtures may have been detached or moved to a location different from that occupied by it at the time of the execution of the mortgage. [L 1939, c 255, pt of §1; RL 1945, §8872; RL 1955, §196-2; am L 1966, c 18, §5(c); HRS §506-2; am L 2000, c 241, §6]