TRADE AND COMMERCE
II. Condominium Instruments
356-B:34 Termination of Condominium or Amendment of Instruments After Conveyance of Unit.
I. If there is any unit owner other than the declarant, then the condominium shall be terminated only by the agreement of unit owners of units to which 4/5 of the votes in the unit owners' association appertain, or such larger majority as the condominium instruments may specify.
II. If there is any unit owner other than the declarant, then the condominium instruments shall be amended only by agreement of unit owners of units to which 2/3 of the votes in the unit owners' association appertain, or such larger majority as the condominium instruments may specify, except in cases for which this chapter provides different methods of amendment. The procedures established in RSA 356-B:54, V shall be followed for amendments to extend the time limits for conversion, expansion, or contraction of a condominium.
II-a. Notwithstanding paragraph II, any amendment to the condominium instruments requiring approval of mortgagees on units may be satisfied by the recording of an affidavit by the president of the association that written request for such approval was sent to the last known address of any mortgagee and that the mortgagee failed to respond within 60 days.
III. If none of the units in the condominium is restricted exclusively to residential use, then the condominium instruments may specify majorities smaller than the minimums specified by paragraphs I and II.
IV. Agreement of the required majority of unit owners to termination of the condominium or to any amendment of the condominium instruments shall be evidenced by their execution of the termination agreement or amendment, or by execution of the president and treasurer of the association accompanied by certification of vote of the clerk or secretary, and the same shall become effective only when such agreement is so evidenced of record. For the purposes of this section and RSA 356-B:33, an instrument terminating a condominium shall be deemed a condominium instrument subject to the provisions of RSA 356-B:11, and for the purposes of this section, any ratification of such an amendment shall also be deemed such an instrument.
V. Except to the extent expressly permitted or expressly required by other provisions of this chapter, no amendment to the condominium instruments shall change the boundaries of any unit, the undivided interest in the common areas appertaining thereto, the liability for common expenses or rights to common profits appertaining thereto, or the number of votes in the unit owners' association appertaining thereto.
VI. Upon recordation of an instrument terminating a condominium, all of the property constituting the same shall be owned by the unit owners as tenants in common in proportion to their respective undivided interests in the common areas immediately prior to such recordation. But as long as such tenancy in common lasts, each unit owner or the heirs, successors, or assigns thereof shall have an exclusive right of occupancy of that portion of said property which formerly constituted his unit.
VII. Upon recordation of an instrument terminating a condominium, any rights the unit owners may have to the assets of the unit owners' association shall be in proportion to their respective undivided interests in the common areas immediately prior to such recordation, except that common profits shall be distributed in accordance with RSA 356-B:44.
VIII. No provision of this chapter shall be construed in derogation of any requirement of the condominium instruments that all or a specified number of the beneficiaries of mortgages or deeds of trust encumbering the condominium units approve specified actions contemplated by the unit owners' association.
Source. 1977, 468:1. 1991, 110:5, eff. May 13, 1991. 2016, 315:1, eff. Aug. 23, 2016.