This bill amends the New Hampshire Condominium Act by expanding the exemption for condominium units from 10 to 25 units, while clarifying that this exemption does not apply to condominiums involving time-sharing interests. It also repeals the provision for abbreviated condominium registrations, which previously allowed for a simplified registration process for certain developments. Additionally, the bill establishes a commission tasked with studying the condominium statutes in New Hampshire, focusing on the registration process, consumer protection, and the overall development of condominiums in the state.

The newly formed commission will consist of various members, including representatives from the House and Senate, a developer with experience in condominium projects, a representative from the Department of Justice, and a real estate attorney specializing in condominium law. The commission is charged with reviewing existing laws, identifying opportunities for modernization, and making recommendations to facilitate condominium development and expand homeownership opportunities. The bill also includes provisions for the commission to report its findings by November 1, 2027, while the majority of the act will take effect upon passage.

Statutes affected:
Introduced: 356-B:49
As Amended by the Senate: 356-B:49
As Amended by the House: 356-B:49, 356-B:2, 356-B:51, 356-B:52, 356-B:71
Version adopted by both bodies: 356-B:49, 356-B:2, 356-B:51, 356-B:52, 356-B:71
CHAPTERED FINAL VERSION: 356-B:49, 356-B:2, 356-B:51, 356-B:52, 356-B:71
SB415 text: 356-B:49