HI HB33

Requires all real estate brokers and salespersons to use a licensed escrow depository when selling or leasing any real estate.

Mandates filing of the escrow depository's name as an attachment with the deed or lease at the Land Court or Bureau of Conveyances.

Requires escrow depositories to provide Form 1099 (miscellaneous income) to transferors, transferees, and real estate brokers or salespersons at closing.

Requires escrow depositories to provide transferees with information about Foreign Investment in Real Property Tax Act withholding requirements and Hawaii real property tax withholding under HRS §235-68.

Takes effect upon approval; does not affect rights, duties, or proceedings that began before the effective date.