§516-70 Reversion of improvements.
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§516-70 Reversion of improvements.
(a)This section applies to all leases of residential lands as defined by section 516-1.
(b)At the termination of any lease, or at the expiration of the lease term, the lessee may, if not then in default under the terms of the lessee's lease, remove all onsite improvements on the lot which were constructed at the cost of, or otherwise paid for by, the lessee, without compensating the lessor therefor. If the lessee notifies the lessor in writing within sixty days before the termination or expiration that the lessee declines to remove such onsite improvements and if the lessee is not then in default under the terms of the lessee's lease, and if the lessor refuses to extend the term of the existing lease or to issue a new lease for a term of at least thirty years at a rental that is mutually agreeable to the parties or failing such agreement that is determined by arbitration pursuant to chapter 658A, the lessor shall be required to compensate the lessee for the current fair market value of all such onsite improvements. Such improvements shall be appraised at the expense of the lessee. The appraiser selected shall be by mutual agreement of the lessee and the lessor or in conformance to chapter 658A. The compensation shall be determined by mutual agreement or in conformity with chapter 658A, and the compensation shall be paid within thirty days of determination. Such expense of arbitration shall be equally shared by both parties. [L 1967, c 307, §43; HRS §516-70; am L 1975, c 184, §2(19); gen ch 1985; am L 2001, c 265, §4]
Revision Note
Section "516-1" substituted for "516-1(5)".
Case Notes
Requirement that lessor purchase leasehold improvements unconstitutionally impairs obligation of preexisting lease contract. 69 H. 112, 736 P.2d 55 (1987).