New NH Condo Laws in Effect as of August 1, 2016

NH real estate attorney Erik Newman has published an update on New Hampshire laws affecting condominium unit owners' associations that may require amending condo bylaws to incorporate the new requirements.

In NH Condo Law: Enhanced Governance Requirements Take Effect for Condominium Associations, Newman outlines significant changes to the way condominium owners' associations (COA's) elect officers and directors, conduct meetings and adopt budgets under the New Hampshire Condominium Act, RSA 356-B, became effective on August 1, 2016 and can be reviewed on the New Hampshire General Court’s website at: Chapter 311 HB 353 - Final Version.

The new law states that in the event of a conflict with an association’s existing declaration and bylaws, the provisions of the Condominium Act shall control, suggesting that bylaw amendment may not be necessary. However, several of the changes impose new content requirements for bylaws, which, if not already present in your bylaws, would necessitate amendment to comply.

Read the full article here.

Opportunity for NH Builder / Developer - Wolfeboro, NH

Buying Distressed Properties in New Hamsphire — NH Foreclosures

Real estate attorney Erik Newman writes:

"Opportunities for purchasing distressed and unfinished developments at deep discounts are abundant, but so are the associated risks."

In his article, What To Watch For When Buying Distressed Developments in New Hampshire, he presents that awareness of the risks combined with rigorous due diligence can minimize some of the otherwise unforeseen expenses and liabilities. The information yielded through this research can also be used to negotiate a lower purchase price. The article will help you to be an informed purchaser, and be less likely to be rejected for making a low ball offer, thereby helping create the best chance for capitalizing on a distressed development acquisition. Read it here.