New Hampshire Revised Statutes 356-B:7 – Creation of Condominium
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Terms Used In New Hampshire Revised Statutes 356-B:7
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
No condominium shall come into existence except by the recordation of condominium instruments pursuant to this chapter. No condominium instruments shall be recorded unless all units located or to be located on any portion of the submitted land, other than within the boundaries of any convertible lands, are depicted on site plans and floor plans that comply with N.H. Rev. Stat. § 356-B:20, I and II. The foreclosure of any mortgage, deed of trust, or other lien shall not be deemed, in and of itself, to terminate the condominium. Notwithstanding any provision of law to the contrary, if a rent increase is made in accordance with N.H. Rev. Stat. § 356-C:3, I(a)(12), application for condominium conversion shall not be made until 3 months after such increase.