Rules and Regulations of the Director of Finance Real Property Tax

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(c) Notice of the approval or disapproval of the petition shall be sent to the petitioner. If the petition is disapproved,the notice shall state the reasons for such disapproval. (d) The Director shall notify the petitioner of approval or disapproval of the petition no later than December 15. Upon approval,the dedication shall become effective July 1 of the following tax year,but the assessed value will be determined on the assessment date of January 1. The petition number and the effective date of the dedication are to be noted on appropriate records accessible to the public. (e) In order to place prospective buyers on notice of the dedicated status and the retroactive tax liability,the petitioner shall,within ninety days of the notice of approval of the petition,record the notice of dedication in accordance with the procedures established by the Bureau of Conveyances. The petitioner shall furnish the Director with a copy of the recorded notice. Failure to record the notice,within the prescribed period, shall be grounds for disallowance of the dedication. Rule 31.6 Effects of Dedication and Enforceable Restriction Upon Use. (a) Each approved dedication shall constitute a forfeiture on the part of the owner of any right to change the use of the land for the term of the dedication. Each dedication shall be deemed breached and cancelled or continued as follows: (1) The dedication shall bind and inure to each successor owner unless properly cancelled by the owner or released by the Director. The dedication is cancelled if the dedicated property or any portion thereof is sold by way of a conveyance subject to conveyance tax under the terms of Chapter 247, Hawaii Revised Statutes,unless a notarized affidavit is signed by the owner stating that the land will continue to be subject to the full requirements of the dedication, including any penalties for violation. (2) Where dedicated land has been subdivided, each parcel shall be independently subject to the provisions of the original dedication. The owner shall notify the Director of any subdivision of his land and shall submit a copy of the approved subdivision map or the registered file plan number if applicable. (A) The Director shall note the dedication upon appropriate records of each subdivided parcel and record the subdivided dedication. (B) The owner shall inform each purchaser of a subdivided parcel of the dedicated status of the land. (Dedicated lands may be freely sold or conveyed in the same manner as any land.)