Terms Used In New Hampshire Revised Statutes 423:1

  • Contract: A legal written agreement that becomes binding when signed.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
Towns are authorized and empowered to construct, own, manage, or provide by contract or otherwise for the management of aircraft landing areas, either within or beyond the boundaries of the town, and for that purpose any town may take land in fee by gift or purchase, or by right of eminent domain as hereinafter provided, or may lease the same, and may erect thereon and maintain such buildings or other structures as may be necessary more fully to carry out the purpose hereof. Two or more towns may join in such action.