Section 356-B:65 Civil Remedy.
I. Any declarant who disposes of any interest in a condominium unit in violation of this chapter, or who in disposing of any such interest makes an untrue statement of a material fact, or who in disposing of any such interest omits a material fact required to be stated in a registration statement or public offering statement or necessary to make the statements made not misleading, is liable to the purchaser of such interest, as set forth in paragraph II, unless in the case of an untruth or omission it is proved that the purchaser knew of the untruth or omission or that the declarant did not know and in the exercise of reasonable care could not have known of the untruth or omission, or that the purchaser did not rely on the untruth or omission.
II. Any purchaser, who is eligible for relief under paragraph I, may bring an action to restrain by temporary or permanent injunction any act or practice declared unlawful by this subdivision IV and may recover the consideration, including all finance charges paid in connection with the purchase of the condominium unit together with interest at the rate of 6 percent per year from the date of all such payments, less the amount of any income received from the condominium unit, upon tender of deed reconveying title to the declarant which is as good and marketable as that which was conveyed to the purchaser by the declarant. In the discretion of the court, exemplary damages of up to $5,000 may also be awarded. If the purchaser no longer owns the condominium unit, he may recover the amount that would be recoverable upon a tender of a reconveyance less the value of the condominium unit when disposed of and less interest at the rate of 6 percent per year on that amount from the date of disposition. If the purchaser prevails in any such action, he may be awarded all reasonable costs and attorney's fees, as approved by the court.
III. Any person who materially participates in any disposition of any interest in a condominium unit in the manner specified in paragraph I and knew of the existence of the facts by reason of which the liability is alleged to exist shall also be liable jointly and severally with the declarant if and to the extent such liability may exist at common law or under other statutory provision. A right to contribution exists among persons so liable.
IV. Every person whose occupation gives authority to a statement which with his consent has been used in an application for registration or public offering statement, if he is not otherwise associated with the condominium and development plan in a material way, is liable only for false statements knowingly made.
V. At any time before the entry of an action under this section, and thereafter only with the approval of the court, a declarant or any other person may limit his exposure herein by tendering a written offer to reimburse the injured person for all mandatory damages set forth in paragraph II, including reasonable attorney's fees and court costs, if any, to the date of such tender upon reconveyance of title as set forth in paragraph II.
VI. A person may not recover under this section in any action commenced more than 2 years from the date the purchaser knew or should have known of the existence of his cause of action, but in any case not more than 6 years after his first payment of money to the declarant in the contested transaction.
VII. Any stipulation or provision purporting to bind any person acquiring any interest in a condominium unit to waive compliance with this chapter or any rule or order under it is void.
VIII. The owner, publisher, licensee or operator of any newspaper, magazine, visual or sound radio broadcasting station or network of stations or the agents or employees of any such owner, publisher, licensee or operator of such newspaper, magazine, station or network of stations shall not be liable under this chapter for any advertising of any condominium or any interest in a condominium unit carried in any such newspaper or magazine or by any such visual or sound radio broadcasting station or network of stations nor shall any of them be liable under this chapter for the contents of any such advertisement.
IX. Any broker or real estate salesman violating any provision of this chapter may, in addition to any other penalty imposed by this chapter, have his real estate broker's or salesman's license suspended or revoked by the real estate commission pursuant to RSA 331-A, for such time as in the circumstances it considers justified.
Source. 1977, 468:1, eff. Sept. 10, 1977.