Contracts
A novation in a New Hampshire real estate transaction means:
AA new addendum is added to the existing contract
BAn existing party is replaced by a new party, releasing the original party from obligations✓ Correct
CThe contract price is renegotiated
DA contingency is waived by mutual consent
Explanation
Novation substitutes a new party (or new contract) for an existing one, with all parties consenting. The original party is fully released from obligations.
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