State Savings & Loan Ass'n v. Kauaian Development Co.

OPINION OF THE COURT BY

LEVINSON, J.

This is the first case to reach this court involving a condominium. The statute under which we decide this case is the Horizontal Property Regimes Act, S.L.H. 1961, Act 180, as amended by S.L.H. 1962, Act 9 (hereinafter “H.P.R.A.” shall mean Act 180 as amended by Act 9) The plaintiff, State Savings & Loan Association, brought this action to foreclose a mortgage given to it by Kauaian Development Co., Inc. (hereinafter “Corporation”) to secure a construction loan. This appeal involves two distinct issues: State Savings’ right to foreclose against the…