New Hampshire Revised Statutes 356-A:9-b – Resale by Purchaser
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I. In the event of any resale of a lot, parcel, unit or interest in subdivided lands by any person other than the subdivider, the prospective purchaser shall have a right to obtain from the property owners’ association, if any, prior to the contract date of disposition, the following:
(a) A statement of any capital expenditures and major maintenance expenditures anticipated by the property owners’ association within the current or succeeding 2 fiscal years;
(b) A statement of the status and amount of any reserve for the major maintenance or replacement fund and any portion of such fund earmarked for any specified project by the board of directors;
(c) A copy of the income statement and balance sheet of the property owners’ association for the last fiscal year for which such statement is available;
(d) A statement of the status of any pending suits or judgments in which the property owners’ association is a party defendant;
(e) A statement setting forth what insurance coverage is provided for all property owners by the property owners’ association and what additional insurance coverage would normally be secured by each individual property owner; and
(f) A statement that any improvements or alterations made to the lot, parcel, unit or interest by the prior property owner are not known to be in violation of any restrictions and covenants imposed upon the subdivided lands.
II. The principal officer of the property owners’ association, or such other officer or officers as the instruments creating such association may specify, shall furnish the statements prescribed by paragraph I upon the written request of any prospective purchaser within 10 days of the receipt of such request.
(a) A statement of any capital expenditures and major maintenance expenditures anticipated by the property owners’ association within the current or succeeding 2 fiscal years;
Terms Used In New Hampshire Revised Statutes 356-A:9-b
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- 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 - Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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
- 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 - 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 - 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 - 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
(b) A statement of the status and amount of any reserve for the major maintenance or replacement fund and any portion of such fund earmarked for any specified project by the board of directors;
(c) A copy of the income statement and balance sheet of the property owners’ association for the last fiscal year for which such statement is available;
(d) A statement of the status of any pending suits or judgments in which the property owners’ association is a party defendant;
(e) A statement setting forth what insurance coverage is provided for all property owners by the property owners’ association and what additional insurance coverage would normally be secured by each individual property owner; and
(f) A statement that any improvements or alterations made to the lot, parcel, unit or interest by the prior property owner are not known to be in violation of any restrictions and covenants imposed upon the subdivided lands.
II. The principal officer of the property owners’ association, or such other officer or officers as the instruments creating such association may specify, shall furnish the statements prescribed by paragraph I upon the written request of any prospective purchaser within 10 days of the receipt of such request.