HB1517

New Hampshire HB1517 regulates business entities owning residential properties, prohibiting certain restrictions and requiring disclosures.

New Hampshire HB1517 amends RSA 354-A to regulate business entities owning residential properties. It defines "business entity" and "managing entity," and specifies that a managing entity cannot restrict the transfer of interests or impose maintenance requirements. The bill mandates that agreements disclose the purchase of an interest in the entity, not the property itself. It prohibits disputes from being brought before non-state or federal tribunals and bans managing entities from charging fees for interest transfers. Violations are considered deceptive trade practices.