When the sale of some 88,000 acres of property on Lanai to Oracle Corp. founder and CEO Larry Ellison closes, it likely won’t include the conveyance tax that is paid on nearly every other real estate transaction in Hawaii.
In fact, the state’s Bureau of Conveyances, which records virtually every real estate transaction in the Islands, has been sitting on the sidelines since news broke last week that Ellison was buying the 98 percent of the island owned by billionaire David Murdock’s Castle…
via Honolulu Business News – Local Honolulu News | Pacific Business News of Honolulu http://feeds.bizjournals.com/~r/bizj_pacific/~3/2-YiGD2fc2Q/hawaii-likely-wont-collect-conveyance.html
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