1999 was a year of continuing controversy concerning State Funding of Education . The NH Supreme Court’s struck down a State legislation which declared a statewide property tax enacted as a result of the 1997 ruling that the State’s reliance on property taxes for the purpose of funding school was unconstitutional . The State revised the new property tax; new protests have been launched.
However, other legislative business did take place. About 900 Legislative Service Requests were filed for the 1999 Session. Public hearings began in January 1999. Some bills of interest are :
--Senate Bill 110- Allows NH Attorneys to discharge mortgages when a Lender neglects or refuses to record within 60 days of payoff.
--Senate Bill 111- Requires a Justice of the Peace to sign a jurat including printed name and commission expiration date.
HB 322—Good Funds Bill applicable to mortgagee funds exchanged at closing.
A sampling of the 1999 legislative activity to date affecting real estate conveyancing follows.
I CIVIL ACTIONS
SB 16 / SB 139
Relative to revocation of will by divorce; adds former spouse’s heirs to prior changes.
Foreign wills which are self-proving are self-proving in NH. Allows no asset estate to file will and death certificate.
II ENVIRONMENTAL ISSUES
Good Funds bill: All mortgagees must provide funds to settlement agent in specified forms. See copy attached
IV. INSURANCE / BUSINESS ISSUES
V. STATUTORY LIENS
VI. TAXES Chapter 17 / HB 117 Real Estate Taxes: Relative to statewide property tax to fund Education..
Transfer Taxes: part of Chapter 17: Bill sets transfer tax at $7.50 per $1000 for Seller and $7.50 per $1000 for Buyer: $15.00 per $1000 total to assist State funding for Education.
VII. PUBLIC ENTITIES
VIII. REAL PROPERTY INTERESTS
IX. DEEDS AND SECURITY INTERESTS SB 110 Relative to NH Attorneys enabled to discharge mortgage by affidavit when Lender is paid and refuses or neglects to provide discharge. see copy attached
X. RECORDING SB 111 Relative to a Justice of the Peace signing a jurat: must print or type name under signature and include expiration date.