New Hampshire Revised Statutes 479-A:15 – Removal From Provisions of This Chapter
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Terms Used In New Hampshire Revised Statutes 479-A:15
- Common areas and facilities: unless otherwise provided in the declaration or lawful amendments thereto, means and includes: the land on which the building is located. See New Hampshire Revised Statutes 479-A:1
- Property: means and includes the land, the building, all improvements and structures thereon, all owned in fee simple absolute or leased as provided in N. See New Hampshire Revised Statutes 479-A:1
- Unit: means a part of the property intended for any type of independent use, including one or more rooms or enclosed spaces located on one or more floors (or part or parts thereof) in a building, and with a direct exit to a public street or highway or to a common area leading to such street or highway. See New Hampshire Revised Statutes 479-A:1
- Unit owner: means the person or persons owning a unit in fee simple absolute, or leasing a unit as provided in N. See New Hampshire Revised Statutes 479-A:1
All of the unit owners may remove a property from the provisions of this chapter by an instrument to that effect, duly recorded, provided that the holders of all liens affecting any of the units consent thereto or agree, in either case by instruments duly recorded, that their liens be transferred to the percentage of the undivided interest of the unit owner in the property as provided in this section. Upon removal of the property from the provisions of this chapter, the property shall be deemed to be owned in common by the unit owners. The undivided interest in the property owned in common which shall appertain to each unit owner shall be the percentage of undivided interest previously owned by such owner in the common areas and facilities.