New Hampshire Revised Statutes 547-C:1 – Parties
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Terms Used In New Hampshire Revised Statutes 547-C:1
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- 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
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Personal property: All property that is not real property.
- Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
Any person owning a present undivided legal or equitable interest or estate in real or personal property (hereinafter called “property”), not subject to redemption, or the holder of an equity of redemption shall be entitled to have partition or division in the manner hereinafter provided. If such interest or estate is in fee, he or she shall be entitled to partition or division in fee; if a life estate or a term for years, he or she shall be entitled to partition or division thereof to continue so long as his or her estate or interest endures. A life tenant, remainderman, or a tenant for years of whose term at least 20 years remains unexpired may, in the exercise of the court’s equitable powers, have partition of the fee. The existence of a lease of the whole or a part of the property to be divided shall not prevent partition or division, but such partition or division shall not disturb possession of a lessee under a lease covering the interests of all the co-tenants.