Property Ownership
A NH homeowner's association's ability to foreclose on a member's unit for unpaid assessments is derived from:
ACommon law only
BThe NH Condominium Act (RSA 356-B) and the association's recorded declaration✓ Correct
CFederal housing regulations
DNHREC rules for condominium projects
Explanation
The NH Condominium Act (RSA 356-B) and the association's recorded declaration and bylaws provide the legal framework for HOA assessment liens and foreclosure rights. Assessment liens in NH condominiums have priority over many other liens (but typically not first mortgages) under RSA 356-B:46.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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