New Hampshire Revised Statutes 356-A:1 – Definitions
Current as of: 2023 | Check for updates
|
Other versions
As used in this chapter the following words shall have the following meanings unless the context clearly requires otherwise:
I. “Dispose” or “disposition” refers to any sale, contract, assignment, or any other voluntary transfer of a legal or equitable interest in a lot, parcel, unit or interest in subdivided lands, except as security for a debt;
II. “Offer” means any inducement, solicitation, or attempt to encourage any person or persons to acquire any legal or equitable interest in a lot, parcel, unit or interest in subdivided lands, except as security for a debt;
III. “Person” means a natural person, corporation, partnership, association, trust, or other entity capable of holding title to real property, or any combination thereof;
IV. “Purchaser” means any person or persons who acquire by means of a voluntary transfer a legal or equitable interest in a lot, parcel, unit or interest in subdivided lands, except as security for a debt;
V. “Subdivider” means a person who is an owner of subdivided land or one who offers it for disposition. Any successor of the person referred to in this paragraph who comes to stand in the same relation to the subdivided lands as his predecessor did shall also come within this definition; provided, however, the term “subdivider” shall not include any homeowners association which is not controlled by a subdivider;
VI. “Subdivision” and “subdivided lands” mean any land in this or another state which is, or has been, or is proposed to be, divided for the purpose of disposition into lots, parcels, units or interests and also include any land whether contiguous or not if said lots, parcels, units or interests are offered as a part of a common promotional plan of advertising and sale; provided, however, that the terms “subdivision” and “subdivided lands” shall not include condominiums;
VII. “Broker” means a real estate broker duly licensed in this state pursuant to RSA 331-A;
VIII. [Repealed.]
IX. “Agent” means any person who represents, or acts for or on behalf of, a subdivider in selling or leasing, or offering to sell or lease, any lot, parcel, unit or interest in a subdivision, but shall not include an attorney-at-law whose representation of another person consists solely of rendering legal services;
X. “Blanket encumbrance” means a trust, deed, mortgage, judgment, or any other lien or encumbrance, including but not limited to an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot, parcel, unit or interest offered within a subdivision, except that such term shall not include any lien or other encumbrance arising as the result:
(a) Of the imposition of any tax assessment by any public authority;
(b) Of easements; or
(c) Of conditions, covenants, and restrictions which affect the subdivisions;
XI. “Publicly held corporation” means a corporation
(a) Having more than 50 stockholders of record; or
(b) Which is actively traded on one of the major stock exchanges;
XII. “Subsidiary corporation” means any corporation, the stock of which is more than 50 percent owned by another corporation or corporations;
XIII. “Closely held corporation” means any corporation which is not a publicly held corporation as defined in paragraph XI nor a subsidiary corporation as defined in paragraph XII;
XIV. “Hearing” means a hearing open to the public;
XV. “Interest” includes, without limitation, any fee simple interest, leasehold interest for a term of more than 5 years, life estate and time sharing interest;
XVI. “Time sharing interest” means the exclusive right to occupy one or more lots, parcels, or units, including campground sites, for less than 60 days each year for a period of more than 5 years from the date of execution of an instrument for the disposition of such right, regardless of whether such right is accompanied by a fee simple interest or a leasehold, or neither of them, in said lots, parcels or units. Time sharing interest shall include “interval ownership interest,” “vacation license,” or any other similar term;
XVII. “Days” means calendar days, unless modified by the word “business”, in which case said term shall include all days except Saturdays, Sundays and legal holidays in the state of New Hampshire.
I. “Dispose” or “disposition” refers to any sale, contract, assignment, or any other voluntary transfer of a legal or equitable interest in a lot, parcel, unit or interest in subdivided lands, except as security for a debt;
Terms Used In New Hampshire Revised Statutes 356-A:1
- Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
- Broker: means a real estate broker duly licensed in this state pursuant to RSA 331-A;
VIII. See New Hampshire Revised Statutes 356-A:1 - Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Days: means calendar days, unless modified by the word "business" in which case said term shall include all days except Saturdays, Sundays and legal holidays in the state of New Hampshire. See New Hampshire Revised Statutes 356-A:1
- Deed: The legal instrument used to transfer title in real property from one person to another.
- disposition: refers to any sale, contract, assignment, or any other voluntary transfer of a legal or equitable interest in a lot, parcel, unit or interest in subdivided lands, except as security for a debt;
II. See New Hampshire Revised Statutes 356-A:1 - Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Hearing: means a hearing open to the public;
XV. See New Hampshire Revised Statutes 356-A:1 - Interest: includes , without limitation, any fee simple interest, leasehold interest for a term of more than 5 years, life estate and time sharing interest;
XVI. See New Hampshire Revised Statutes 356-A:1 - Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means a natural person, corporation, partnership, association, trust, or other entity capable of holding title to real property, or any combination thereof;
IV. See New Hampshire Revised Statutes 356-A:1 - Publicly held corporation: means a corporation
(a) Having more than 50 stockholders of record; or
(b) Which is actively traded on one of the major stock exchanges;
XII. See New Hampshire Revised Statutes 356-A:1 - real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
- Subdivider: means a person who is an owner of subdivided land or one who offers it for disposition. See New Hampshire Revised Statutes 356-A:1
- Subdivision: and "subdivided lands" mean any land in this or another state which is, or has been, or is proposed to be, divided for the purpose of disposition into lots, parcels, units or interests and also include any land whether contiguous or not if said lots, parcels, units or interests are offered as a part of a common promotional plan of advertising and sale. See New Hampshire Revised Statutes 356-A:1
- Subsidiary corporation: means any corporation, the stock of which is more than 50 percent owned by another corporation or corporations;
XIII. See New Hampshire Revised Statutes 356-A:1 - Time sharing interest: means the exclusive right to occupy one or more lots, parcels, or units, including campground sites, for less than 60 days each year for a period of more than 5 years from the date of execution of an instrument for the disposition of such right, regardless of whether such right is accompanied by a fee simple interest or a leasehold, or neither of them, in said lots, parcels or units. See New Hampshire Revised Statutes 356-A:1
II. “Offer” means any inducement, solicitation, or attempt to encourage any person or persons to acquire any legal or equitable interest in a lot, parcel, unit or interest in subdivided lands, except as security for a debt;
III. “Person” means a natural person, corporation, partnership, association, trust, or other entity capable of holding title to real property, or any combination thereof;
IV. “Purchaser” means any person or persons who acquire by means of a voluntary transfer a legal or equitable interest in a lot, parcel, unit or interest in subdivided lands, except as security for a debt;
V. “Subdivider” means a person who is an owner of subdivided land or one who offers it for disposition. Any successor of the person referred to in this paragraph who comes to stand in the same relation to the subdivided lands as his predecessor did shall also come within this definition; provided, however, the term “subdivider” shall not include any homeowners association which is not controlled by a subdivider;
VI. “Subdivision” and “subdivided lands” mean any land in this or another state which is, or has been, or is proposed to be, divided for the purpose of disposition into lots, parcels, units or interests and also include any land whether contiguous or not if said lots, parcels, units or interests are offered as a part of a common promotional plan of advertising and sale; provided, however, that the terms “subdivision” and “subdivided lands” shall not include condominiums;
VII. “Broker” means a real estate broker duly licensed in this state pursuant to RSA 331-A;
VIII. [Repealed.]
IX. “Agent” means any person who represents, or acts for or on behalf of, a subdivider in selling or leasing, or offering to sell or lease, any lot, parcel, unit or interest in a subdivision, but shall not include an attorney-at-law whose representation of another person consists solely of rendering legal services;
X. “Blanket encumbrance” means a trust, deed, mortgage, judgment, or any other lien or encumbrance, including but not limited to an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot, parcel, unit or interest offered within a subdivision, except that such term shall not include any lien or other encumbrance arising as the result:
(a) Of the imposition of any tax assessment by any public authority;
(b) Of easements; or
(c) Of conditions, covenants, and restrictions which affect the subdivisions;
XI. “Publicly held corporation” means a corporation
(a) Having more than 50 stockholders of record; or
(b) Which is actively traded on one of the major stock exchanges;
XII. “Subsidiary corporation” means any corporation, the stock of which is more than 50 percent owned by another corporation or corporations;
XIII. “Closely held corporation” means any corporation which is not a publicly held corporation as defined in paragraph XI nor a subsidiary corporation as defined in paragraph XII;
XIV. “Hearing” means a hearing open to the public;
XV. “Interest” includes, without limitation, any fee simple interest, leasehold interest for a term of more than 5 years, life estate and time sharing interest;
XVI. “Time sharing interest” means the exclusive right to occupy one or more lots, parcels, or units, including campground sites, for less than 60 days each year for a period of more than 5 years from the date of execution of an instrument for the disposition of such right, regardless of whether such right is accompanied by a fee simple interest or a leasehold, or neither of them, in said lots, parcels or units. Time sharing interest shall include “interval ownership interest,” “vacation license,” or any other similar term;
XVII. “Days” means calendar days, unless modified by the word “business”, in which case said term shall include all days except Saturdays, Sundays and legal holidays in the state of New Hampshire.