(Second New Title) allowing the department of justice to authorize the preclosing use of a portion of a deposit held in escrow for the payment of certain construction customizations, upgrades, or change orders.
Sponsored By: Howard Pearl (r)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Buyer deposits can fund upgrades before closing
Beginning 60 days after passage, New Hampshire allows approved use of part of a purchase deposit before closing. This applies to covered land and condominium sales and deposit money designated in the purchase agreement. The money can pay for customizations, upgrades, change orders, similar items, or a combination of them. The Department of Justice’s Consumer Protection and Antitrust Bureau must approve the use and can impose reasonable terms. Approval is not guaranteed.
Fewer buyer payments get deposit protections
Beginning 60 days after passage, only earnest money under a purchase agreement counts as a deposit in covered New Hampshire land and condominium sales. Extra payments owed to sellers or their agents for buyer upgrades, selections, or change orders do not count. Land deposits must stay in escrow until closing, except for approved early uses. Condominium deposits may instead go to a construction lender, which can hold them in escrow or apply them to construction; nonbinding reservation deposits require escrow. Escrow money requires a separate account, but New Hampshire-licensed brokers and attorneys can use their regular escrow accounts. Creditors of buyers, subdividers, or condominium developers cannot attach these escrow funds to collect debts.
Sponsors & Cosponsors
Sponsor
Howard Pearl
r • Senate
Cosponsors
Alvin B See
Republican • House
Carol M McGuire
Republican • House
Daniel E. Innis
Republican • Senate
Keith R. Murphy
Republican • Senate
Kevin G. Verville
Republican • House
Timothy Lang
Republican • Senate
Michael I Moffett
Republican • House
Tara Reardon
Democratic • Senate
Scott R Bryer
Republican • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Signed by the Governor on 08/01/2025; Chapter 291; Effective 08/01/2025
8/4/2025SenateEnrolled (in recess of) 06/26/2025 HJ 18 P. 64
7/16/2025HouseEnrolled Adopted, VV, (In recess 06/26/2025); SJ 18
7/16/2025SenateEnrolled Bill Amendment # 2025-2905e Adopted, VV, (In recess of 06/26/2025); SJ 18
7/8/2025SenateEnrolled Bill Amendment # 2025-2905e: AA VV (in recess of) 06/26/2025 HJ 18 P. 60
7/7/2025HouseSen. Innis Moved to Concur with the House Amendment, MA, VV; 06/12/2025; SJ 16
6/12/2025SenateOught to Pass with Amendment 2025-1976h: MA VV 06/05/2025 HJ 16 P. 2
6/5/2025HouseAmendment # 2025-1976h (NT): AA VV 06/05/2025 HJ 16 P. 2
6/5/2025HouseCommittee Report: Ought to Pass with Amendment # 2025-1976h (NT) 05/27/2025 (Vote 16-0; CC) HC 27 P. 6
5/28/2025HouseExecutive Session: 05/27/2025 01:15 pm LOB 302-304
5/21/2025HouseSubcommittee Work Session: 05/14/2025 10:30 am LOB 302-304
5/7/2025HouseSubcommittee Work Session: 05/06/2025 10:00 am LOB 302-304
4/30/2025HousePublic Hearing: 04/22/2025 01:30 pm LOB 302-304
4/16/2025HouseIntroduced (in recess of) 03/27/2025 and referred to Commerce and Consumer Affairs HJ 11 P. 109
3/28/2025HouseOught to Pass with Amendment #2025-0906s, MA, VV; OT3rdg; 03/20/2025; SJ 8
3/20/2025SenateCommittee Amendment # 2025-0906s, AA, VV; 03/20/2025; SJ 8
3/20/2025SenateCommittee Report: Ought to Pass with Amendment # 2025-0906s, 03/20/2025; Vote 6-0; CC; SC 13
3/12/2025SenateHearing: 01/14/2025, Room 100, SH, 10:15 am; SC 5
1/9/2025SenateIntroduced 01/08/2025 and Referred to Commerce; SJ 2
1/7/2025Senate
Bill Text
As Amended
7/8/2025
Enrolled
7/7/2025
Introduced
1/7/2025
CHAPTERED FINAL VERSION
Version adopted by both bodies
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