Developing real estate involves taking a parcel of land and either creating a subdivision or a condominium, or building a building on the property.
Creating a subdivision involves creating a plan of the proposed lots and lot lines, and then having the plan approved by the town. Once the town approves the plan, the plan is recorded, and the subdivision is created.
Additionally, subdivisions often have covenants or restrictions on what lot owners can do with their lots, and about how the costs of shared roads and other amenities will be shared. To put such covenants and restrictions in place, the subdivider records a Declaration of Covenants.
If a subdivision has a total of 15 lots or more, additionally, the subdivider will need to comply with the Land Sales Full Disclosure Act, NHRS 356-A.
Creating a condominium requires a number of steps. First, like a subdivision, a plan of the proposed condominium is submitted to the town for the town's approval. Once the town approves the plan, the plan is recorded. Additionally, the declarant must record a Declaration of Condominium.
If the condominium has ten or more units, additionally, the declarant will need to comply with the Land Sales Full Disclosure Act, and the Condominium Act, NHRS 356-B.
Building a building requires town approval, and possibly also state approval (e.g. NHDES), and a number of contracts with the various contractors.
The attorneys at Bielagus Law Offices PLLC have been representing and advising real estate developers since 1972.