Section 147-F:17 Sale or Transfer of Property in Program. - New Hampshire Statutes

   I. Property in the brownfields program may be transferred to a successor owner at any time during the remedial process. A successor owner may participate in the brownfields program as provided in this section after receiving an eligibility determination under RSA 147-F:10 and paying the program fee under RSA 147-F:14.
   II. If transfer of the property is made before approval of a remedial action plan, the successor owner, upon receipt of an eligibility determination and payment of the program fee, shall:
      (a) Become a program participant.
      (b) Continue with pre-remedial activities at the property.
      (c) Be vested with all benefits and obligations provided in this chapter, including responsibility for immediate site stabilization if necessary.
   III. If transfer of the property is made after approval of the remedial action plan but before certification of completion in accordance with RSA 147-F:13, the successor owner, after receipt of an eligibility determination and payment of the program fee, shall:
      (a) Become a program participant.
      (b) Assume responsibility for completion of the approved remedial action plan, which shall be amended at the request of the successor to extend or modify the schedule for completion of remedial activities, but only if the site has been stabilized to the department's approval.
      (c) Receive a covenant not to sue in accordance with RSA 147-F:6.
   IV. If transfer of the property is made after certification of completion in accordance with RSA 147-F:13, the successor owner shall enjoy the full benefit of the covenant appurtenant to the property and shall comply with all conditions of that covenant. The transferor of property in the program shall certify compliance with the approved remedial action plan, including all use restrictions. This certification shall be provided in writing to the successor owner at the time of transfer, with a copy to be provided to the department.

Source. 1996, 241:2, eff. July 1, 1996.