Text to be removed highlighted in red.
192:1 New Paragraph; Condominium Act; Definitions; Improvement. Amend RSA 356-B:3 by inserting after paragraph XVI the following new paragraph:
XVI-a. "Improvement" means any addition to condominium land, facilities, or amenities other than condominium units.
192:2 New Paragraph; Conversion of Convertible Spaces. Amend RSA 356-B:24 by inserting after paragraph IV the following new paragraph:
V. Until the expiration of the period during which conversion may occur or until actual conversion, whichever occurs first, real estate taxes relative to convertible space shall be assessed against the declarant rather than the unit owners when such space is utilized only for the benefit of the declarant. No such conversion shall occur after 5 years from the recordation of the declaration, or such shorter period of time period as the declaration may specify, provided, however, that the time limit contained in the declaration may be extended by not more than 5 years by an amendment to the declaration adopted pursuant to RSA 356-B:54, V.
192:3 New Paragraph; Contents of Declaration. Amend RSA 356-B:16 by inserting after paragraph I the following new paragraph:
I-a. All lands within the declaration of the condominium which are within the original bounds of the condominium shall be identified therein as individual units, common areas, limited common areas, convertible spaces, or convertible lands. All lands proposed for possible future expansion shall be identified as expandable lands.
192:4 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 08, 2018
Effective Date: August 07, 2018
Text to be added highlighted in green.
192:1 New Paragraph; Condominium Act; Definitions; Improvement. Amend RSA 356-B:3 by inserting after paragraph XVI the following new paragraph:
XVI-a. "Improvement" means any addition to condominium land, facilities, or amenities other than condominium units.
192:2 New Paragraph; Conversion of Convertible Spaces. Amend RSA 356-B:24 by inserting after paragraph IV the following new paragraph:
V. Until the expiration of the period during which conversion may occur or until actual conversion, whichever occurs first, real estate taxes relative to convertible space shall be assessed against the declarant rather than the unit owners when such space is utilized only for the benefit of the declarant. No such conversion shall occur after 5 years from the recordation of the declaration, or such shorter period of time period as the declaration may specify, provided, however, that the time limit contained in the declaration may be extended by not more than 5 years by an amendment to the declaration adopted pursuant to RSA 356-B:54, V.
192:3 New Paragraph; Contents of Declaration. Amend RSA 356-B:16 by inserting after paragraph I the following new paragraph:
I-a. All lands within the declaration of the condominium which are within the original bounds of the condominium shall be identified therein as individual units, common areas, limited common areas, convertible spaces, or convertible lands. All lands proposed for possible future expansion shall be identified as expandable lands.
192:4 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 08, 2018
Effective Date: August 07, 2018