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1 New Paragraph; Trade and Commerce; Land Sales Full Disclosure Act; Definitions. Amend RSA 356-A:1 by inserting after paragraph XVII the following new paragraph:
XVIII. "Deposits" means the deposit of earnest money for a purchase and sales agreement for the disposition of any sale, contract, assignment, or any other voluntary transfer of a legal or equitable interest in a lot, parcel, unit, or interest in subdivided lands. Deposit shall be limited to earnest money and shall not include any change orders, upgrades, or additional funds due to the seller or seller's agent due to buyer upgrades or selections.
2 New Paragraph; Trade and Commerce; Condominium Act; Definitions. Amend RSA 356-B:3 by inserting after paragraph XIII the following new paragraph:
XIII-a. "Deposits" means the deposit of earnest money for a purchase and sales agreement for the disposition of any sale, contract, assignment, or any other voluntary transfer of a legal or equitable interest in a lot, parcel, unit, or interest in subdivided lands. Deposit shall be limited to earnest money and shall not include any change orders, upgrades, or additional funds due to the seller or seller's agent due to buyer upgrades or selections.
3 Effective Date. This act shall take effect 60 days after its passage.
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1 New Paragraph; Trade and Commerce; Land Sales Full Disclosure Act; Definitions. Amend RSA 356-A:1 by inserting after paragraph XVII the following new paragraph:
XVIII. "Deposits" means the deposit of earnest money for a purchase and sales agreement for the disposition of any sale, contract, assignment, or any other voluntary transfer of a legal or equitable interest in a lot, parcel, unit, or interest in subdivided lands. Deposit shall be limited to earnest money and shall not include any change orders, upgrades, or additional funds due to the seller or seller's agent due to buyer upgrades or selections.
2 New Paragraph; Trade and Commerce; Condominium Act; Definitions. Amend RSA 356-B:3 by inserting after paragraph XIII the following new paragraph:
XIII-a. "Deposits" means the deposit of earnest money for a purchase and sales agreement for the disposition of any sale, contract, assignment, or any other voluntary transfer of a legal or equitable interest in a lot, parcel, unit, or interest in subdivided lands. Deposit shall be limited to earnest money and shall not include any change orders, upgrades, or additional funds due to the seller or seller's agent due to buyer upgrades or selections.
3 Effective Date. This act shall take effect 60 days after its passage.