CHAPTER 156
SB 54 – FINAL VERSION
03/30/11 1311s
2011 SESSION
05/10
SENATE BILL 54
AN ACT relative to the definition of declarant under the condominium act and the duties of the committee to study laws relating to condominium and homeowners’ associations.
SPONSORS: Sen. De Blois, Dist 18; Rep. Hinch, Hills 19
This bill excludes a foreclosing mortgagee from the definition of declarant under the condominium act. The bill also clarifies the duties of the committee to study the laws relating to condominium and homeowners’ associations.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03/30/11 1311s
11-0603
05/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT relative to the definition of declarant under the condominium act and the duties of the committee to study laws relating to condominium and homeowners’ associations.
Be it Enacted by the Senate and House of Representatives in General Court convened:
156:1 Condominium Act; Definition of Declarant; Mortgage Holder Exempt. Amend RSA 356-B:3, XIII to read as follows:
XIII. “Declarant” means all persons who execute or propose to execute the declaration or on whose behalf the declaration is executed or proposed to be executed. From the time of the recordation of any amendment to the declaration expanding an expandable condominium, all persons who execute that amendment or on whose behalf that amendment is executed shall also come within this definition. Any successors of the persons referred to in this paragraph who come to stand in the same relation to the condominium as their predecessors did shall also come within this definition; provided, however, this definition shall not include any homeowners association which is not controlled by a declarant or any mortgage holder that forecloses on a declarant’s interest in the condominium, provided that the foreclosing mortgagee refrains from exercising any of the rights reserved to the declarant by this chapter. A foreclosing mortgagee may transfer all such rights to a successor builder or developer without registration or exemption, provided that prior to such intended transfer, the mortgagee files an affidavit or with the attorney general identifying the intended transferee by name, address, and telephone number, and listing the number of units or interests remaining in the condominium, and the number of units or interests so transferred.
156:2 Duties of the Committee to Study the Laws Relating to Condominium and Homeowners’ Associations. Amend RSA 356-B:70, IV(a) to read as follows:
(a) Study laws relevant to condominium and other homeowners’ associations, and the rules and regulations adopted thereunder, to assess their scope and application and whether revision or amendment is necessary.
156:3 Effective Date.
I. Section 1 of this act shall take effect 60 days after its passage.
II. The remainder of this act shall take effect upon its passage.
Approved: June 8, 2011
Effective Date: I. Section 1 shall take effect August 7, 2011.
II. Remainder shall take effect June 8, 2011.