New Hampshire Revised Statutes 356-A:9-a – Escrow of Deposits
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Hampshire Revised Statutes 356-A:9-a
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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 - 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 - Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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 - 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. 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- 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
Any deposit made in regard to any disposition of a lot, parcel, unit or interest in subdivided lands shall be held in escrow until settlement or closing. Such escrow funds shall be deposited in a separate account designated for this purpose; provided, however, if such funds are being held by a real estate broker or attorney licensed under the laws of this state, they may be placed in that broker’s or attorney’s regular escrow account and need not be placed in a separate designated account. Such escrow funds shall not be subject to attachment by the creditors of either the purchaser or the subdivider.