RSA 356-A:9-a · Escrow of Deposits

356-A:9-a Escrow of Deposits. –
Any deposit made in regard to any disposition of a lot, parcel, unit or interest in subdivided lands shall be held in escrow until settlement or closing. Such escrow funds shall be deposited in a separate account designated for this purpose; provided, however, if such funds are being held by a real estate broker or attorney licensed under the laws of this state, they may be placed in that broker's or attorney's regular escrow account and need not be placed in a separate designated account. Such escrow funds shall not be subject to attachment by the creditors of either the purchaser or the subdivider. Notwithstanding the foregoing requirement that the deposit be held in escrow, the department of justice's consumer protection and antitrust bureau may authorize the preclosing use of a portion of a deposit designated pursuant to a purchase and sales agreement for the payment of any of the following, on such terms as the bureau might reasonably impose:
I. Customizations;
II. Upgrades;
III. Change orders;
IV. Similar items; and
V. Any combination of paragraphs I through IV.
Source. 1977, 469:20, eff. Sept. 10, 1977. 2025, 291:1, eff. Aug. 1, 2025.