I. At least 90 days prior to the offering for sale by a municipality of property which is acquired by tax deed on or after the effective date of this section, the municipal governing body or its designee shall send notice by certified mail, address service requested, return receipt requested, to the last known post office address of the owner of the property at the time of the tax deed, if known, or to the person to whom notice of the impending tax deed was given under N.H. Rev. Stat. § 80:77. The notice shall set forth the terms of the offering and the right of the former owner or owners to repurchase the property, as set forth in paragraph II. Copies of any such notice shall also be sent by certified mail, return receipt requested, to any mortgagee to whom notice of the impending tax deed was sent under N.H. Rev. Stat. § 80:77-a. For any notice sent pursuant to this paragraph, $10 may be added to the municipality’s “costs” as defined in N.H. Rev. Stat. § 80:90. In this section, an “offering for sale” means the authorization by the municipality’s governing body to its designee to sell the property.
II. Within 30 days after the notice required by paragraph I, or if no such notice is received, at any time within 3 years after the date of recording the tax deed, any former owner of the property may give notice by certified mail, return receipt requested, of intent to repurchase the property from the municipality, and stating that such owner is ready, willing, and able to pay all back taxes, interest, costs and penalty, as defined in N.H. Rev. Stat. § 80:90, except that if the property is the former owner’s principal residence, or was the former owner’s principal residence at the time of execution of the tax deed under N.H. Rev. Stat. § 80:76, the additional penalty under N.H. Rev. Stat. § 80:90, I(f) shall not apply. If all such back taxes, interest, costs and penalty have not been actually tendered within 30 days of such notice of intent to repurchase, the municipality may proceed with its offering and dispose of the property without any interest by the former owner.
III. The deed from the municipality upon such repurchase shall convey the municipality’s interest in the property, or such portion as has not been previously disposed of by the municipality, to all record former owners in the same proportional undivided interests as the former owners of record.
IV. The former owners’ title upon repurchase shall be subject to any liens of record against the property as of the time of the tax deed to the municipality, and subject to any leases, easements, or other encumbrances as may have been granted or placed on the property by the municipality. In the case of multiple former owners, any owner paying more than a proportional share of the purchase price to the municipality shall have a lien against the other owners for the amount of the excess paid.
V. A notice of intent to repurchase under this section may also be filed by the holder of any recorded mortgage interest in the property which was unredeemed as of the date of the tax deed. Upon payment the property shall be deeded as provided in paragraph III, but the mortgagee shall be entitled to add the amount paid to the municipality to the amount due under the mortgage.
VI. Conveyances to a former owner under this section shall not be subject to the real estate transfer tax under RSA 78-B.
VII. The duty of the municipality to notify former owners and to distribute proceeds pursuant to N.H. Rev. Stat. § 80:88, and the former owners’ right of repurchase under this section shall terminate 3 years after the date of recording of the deed.