Haw. Rev. Stat. § 206-32: Subordination of mortgage to agreement with government.
Where this section sits in the code
- HI Code
- Division 1
- Title 13
- Chapter 206
The board of land and natural resources may agree in any mortgage made by it that the mortgage shall be subordinate to a contract for the supervision by a government of the operation and maintenance of the mortgaged property and the construction of improvements thereon. In that event, any purchaser or purchasers at a sale of the property of the board pursuant to a foreclosure of the mortgage or any other remedy in connection therewith, shall obtain title to the contract.
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