Part 3 — .1
41.1 Life Leases Definitions
(a) "entrance fee" means an amo unt, other than occupancy fees,
payable under a life lease to a lease operator or a trustee;
(b) "lease operator" means a pe rson who, under a life lease,
grants to a leaseholder the exclusive right to occupy a
residential dwelling and, if applicable, the right to use areas
intended for the common use of occupants of a building;
(c) "leaseholder" means an ind ividual who, under a life lease, is
granted the exclusive right to occupy a residential dwelling
and, if applicable, the right to use areas intended for the
common use of occupants of a building, or the estate of a
deceased leaseholder;
(d) "life lease" means a written agreement pursuant to or with
respect to which
(i) an entrance fee has been paid or is payable with respect
to a residential dwelling, and
(ii) the leaseholder is granted the exclusive right to occupy
the residential dwelling and, if applicable, the right to
use areas intended for the common use of occupants of a
building for life or until the life lease is terminated by
the lease operator or the leaseholder;
(e) "occupancy fees" means an y amount the lease operator
requires the leaseholder to pay on a monthly or other basis
for operations, maintenance and services or to secure the
upkeep and cleanliness of the residential dwelling;
(f) "pre-lease payment" means a payment that may be used as a
deposit to hold a residential dwelling for an individual who
has not formally entered into a life lease;
(g) "trustee" means a person o r entity appointed by the lease
operator to receive, manage and disburse funds on behalf of
the lease operator.
2024 c3 s3
RSA 2000