New Hampshire Revised Statutes 356-C:5 – Exclusive Right to Purchase
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I. Any tenant entitled to notice under N.H. Rev. Stat. § 356-C:3, I and II, shall have an exclusive right to contract for the purchase of the unit that he occupies, provided that the unit is to be retained without substantial alteration in its physical layout. Such tenant shall be given all documents provided to the general public or to any other tenant as a part of the offering for sale. Each tenant shall have 60 days from the time of receipt of the sales documents to exercise his exclusive right to purchase. The exclusive right to purchase shall expire prior to the expiration of the 60 day period upon the tenant’s voluntarily giving notice of termination of his lease or rental agreement or vacating his unit, whichever is earlier.
II. Failure to comply with this section shall render a sale to any person or entity other than the tenant voidable at the option of the tenant if the tenant exercises this option before giving notice of termination or vacating the premises.
II. Failure to comply with this section shall render a sale to any person or entity other than the tenant voidable at the option of the tenant if the tenant exercises this option before giving notice of termination or vacating the premises.
Terms Used In New Hampshire Revised Statutes 356-C:5
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Tenant: means a person who has entered into a lease or other contractual arrangement with the owner. See New Hampshire Revised Statutes 356-C:1