Terms Used In New Hampshire Revised Statutes > Chapter 479-A - Unit Ownership of Real Property

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Association of unit owners: means all of the unit owners acting as a group in accordance with the bylaws and declaration. See New Hampshire Revised Statutes 479-A:1
• Building: means a building or group of buildings having a total of 5 or more units and comprising a part of the property. See New Hampshire Revised Statutes 479-A:1
• 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
• Common expenses: means and includes: all sums lawfully assessed against the unit owners by the association of unit owners; expenses of administration, maintenance, repair or replacement of the common areas and facilities; expenses agreed upon as common expenses by the association of unit owners; expenses declared common expenses by provisions of this chapter or by the declaration or the bylaws. See New Hampshire Revised Statutes 479-A:1
• Common profits: means the balance of all income, rents, profits, and revenues from the common areas and facilities remaining after the deduction of the common expenses. See New Hampshire Revised Statutes 479-A:1
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Declaration: means the instrument by which the property is submitted to the provisions of this chapter as provided in N. See New Hampshire Revised Statutes 479-A:1
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• 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
• 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}
• Grantor: The person who establishes a trust and places property into it.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited common areas and facilities: means and includes those common areas and facilities designated in the declaration as reserved for use of certain unit or units to the exclusion of the other units. See New Hampshire Revised Statutes 479-A:1
• Majority: or "majority of unit owners" means the unit owners with 51 percent or more of the votes in accordance with the percentages assigned in the declaration to the units for voting purposes. See New Hampshire Revised Statutes 479-A:1
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means individual, corporation, partnership, association, trustee or other legal entity. See New Hampshire Revised Statutes 479-A:1
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• 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
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Service of process: The service of writs or summonses to the appropriate party.
• Trustee: A person or institution holding and administering property in trust.
• 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