Property Ownership
NH's Condominium Act (RSA 356-B) governs:
AOnly commercial condominium projects
BThe creation, management, and governance of condominium associations in New Hampshire✓ Correct
COnly condominiums built after 2000
DOnly the financial reporting of associations
Explanation
RSA 356-B governs all aspects of condominium creation and operation in NH — from the declaration and bylaws, to unit owner rights and duties, to association governance and management.
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Key Terms to Know
Deed
A 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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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