New Hampshire Laws
Requirement to Record: While state law does not require a lease to be recorded, without recording, the option to purchase does not create constructive notice to third parties. Additionally, leases longer than 7 years are only valid among the original parties if not recorded.[1]
Expiration: Constructive notice does not have a statutory expiration in New Hampshire.
Maximum Term: There is no maximum term for residential leases with an option to purchase.
No Duration: If the lease does not specify a duration for the option itself, because the option is part of the lease, it expires when the lease expires.
Signing Requirements: A lease with an option to purchase must be in writing and must be signed by the seller.[2]
Required Disclosures (3)
1. Lead-Based Paint Disclosure & EPA Pamphlet – Tenants moving into a property constructed before 1978 must be made aware of the possible presence of lead-based paint.
2. Move-in Checklist – Tenants paying a security deposit should receive a move-in checklist to document the condition of the property within five days of moving in.[3]
3. Security Deposit Receipt – Tenants paying a security deposit should receive details of the bank and account where the deposit is being held.[4]
Seller’s Disclosures (2)
1. Seller’s Property Disclosure Statement – The seller is required to attach the property disclosure statement to the purchase agreement and inform the buyer of specific aspects of the property.
2. Buyer’s Notification Disclosure – Prior to executing a purchase contract, the buyer must sign the notification that gives a disclosure of possible radon, arsenic, and lead that is located in New Hampshire and could be on the premises.