HRS §514E-21
What recording a time share notice does to other claims
When a developer records a notice of a time share plan, later buyers' interests are protected from most earlier claims by the developer's creditors or by people who take over the title. But recording does not affect certain rights or liens that were recorded before the notice, or purchase money liens on a time share interest.
buyerscreditorsdevelopers
The statute, as written — Effect of recording a notice of time share plan
When a notice of time share plan is recorded, claims by creditors of the developer and claims upon, or by successors to, the interest of the title holder who executed the notice of time share plan, shall be subordinate to the interest of owners whose purchase of time share interests in the time share plan is closed after the notice of time share plan is recorded. The recording of a notice of time share plan shall not affect: (1) The rights or lien of a lienholder whose lien was recorded prior to the notice of time share plan; (2) The rights of the holder of an option recorded before the notice of time share plan; (3) The rights or lien of a lienholder having a purchase money lien on a time share interest.
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