So, you’re buying a house. You probably get an inspection done on the house as part of the approval process for your mortgage. But do you think about the boundary lines of the property? Maybe the seller tells you the line is at a tree, or a fence. Maybe you don’t even discuss the boundary lines at all. Then how do you know what you are buying? You … [Read more...]
Real Estate Law Articles
New Hampshire Won’t Tax You to Death for Putting Real Estate into Your Revocable Trust
When New Hampshire real estate is sold in a typical transaction and ownership is transferred to the buyer, the seller has to pay Real Estate Transfer Tax (“RETT”) and the buyer also has to pay RETT. If you have sold or bought real estate in New Hampshire, it is likely that you paid your one-half share of thousands of dollars of RETT. Under Chapter … [Read more...]
Private Road Maintenance – Live Free or Die in Action!
For the third year in a row, a bill (SB 401) was introduced in New Hampshire to require owners of residential real estate on private roads to contribute toward the maintenance of the road. For the third year in a row, the bill failed. The effort has been led by realtors, who point out Fannie Mae will not buy loans secured by houses on private … [Read more...]
Construction Contract without Plans and Specs? Bad Idea.
A couple had a rent-to-own agreement with a third party for a house, pursuant to which they had accumulated some equity. They agreed to relinquish that agreement, forgo their equity, and help a licensed realtor, Michael Fowler, purchase the house, which he did. The couple also entered into an oral agreement with Fowler for him to build them a new … [Read more...]
Are You Required to Give Financial Statements to Your Municipality?
In the context of real estate tax assessments in New Hampshire, the answer is “No.” We have seen tax assessors in some municipalities, such as Portsmouth, request income and expense information from at least some commercial landlords. Owners turn the information over, likely under the assumption they are required to do so. In fact, this … [Read more...]
A Brief Overview of Land Use Appeals
Local land use boards, such as zoning boards and planning boards, issue decisions on applications—such as site plan applications, subdivision applications, variances, and special exceptions—based on the information presented by the applicant(s) and considered in accordance with state law and local ordinance provisions. Boards may reject or deny … [Read more...]
Commercial Leases – When Should a Landlord Sue?
Let’s say your tenant signed a lease on September 1, never took possession, and made two monthly payments before stopping. Most commercial leases would give the landlord the right to terminate the lease, evict the tenant and sue immediately for the balance due. Many also give the landlord the option to keep the lease in effect and recover rent … [Read more...]
Appraisers and “Extraordinary Assumptions”
Appraisers often serve as expert witnesses in tax abatement matters. The more money at stake, the more likely the parties will need appraisers. When used in that manner, an appraiser is considered an expert witness. Expert witnesses are used to assist the judge, appeals board or other tribunal of technical matters and conclusions beyond the … [Read more...]
Local Land Use Law: A Brief Introduction, Part II
Zoning Boards of Adjustment (“ZBA’s”) New Hampshire municipalities are permitted to establish zoning boards of adjustment, or ZBA’s, by statute. Every zoning ordinance adopted by a local legislative body must include provisions for the establishment of a ZBA to enforce the local ordinance. RSA 673:1. Members of the ZBA Each ZBA must … [Read more...]
New Hampshire Planning Boards: A Brief Introduction
Another staple land use boards in most New Hampshire municipalities is the Planning Board. Planning Boards are statutorily regulated, and the powers of a Planning Board are specifically defined under the language of each individual municipal ordinance. Makeup of Planning Boards Planning Boards may be established by local legislative bodies. … [Read more...]