New Hampshire Revised Statutes 78-B:9 – Authority to Audit
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I. The commissioner of the department of revenue administration shall have the power to audit all real estate transfers within this state for purposes of verifying and determining the existence of a sale, granting or transfer of real estate, and for purposes of verifying and determining the amount of the price or consideration paid for real estate transferred within this state.
II. If there is occasion to determine if there has been a sale, grant or transfer of real estate within this state, the commissioner shall look to the substance of the transaction or series of transactions to determine if a sale, grant or transfer of real estate has occurred.
III. If there is occasion to determine if the stated price or consideration is the actually paid or required to be paid price or consideration, then the commissioner shall have the power, barring specific proof to the contrary, to determine the actual price or consideration by the fair market value of the real estate.
IV, V. [Repealed.]
II. If there is occasion to determine if there has been a sale, grant or transfer of real estate within this state, the commissioner shall look to the substance of the transaction or series of transactions to determine if a sale, grant or transfer of real estate has occurred.
Terms Used In New Hampshire Revised Statutes 78-B:9
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
- 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
III. If there is occasion to determine if the stated price or consideration is the actually paid or required to be paid price or consideration, then the commissioner shall have the power, barring specific proof to the contrary, to determine the actual price or consideration by the fair market value of the real estate.
IV, V. [Repealed.]