Real Property Ownership, Estates, Interests and Transfer
Estates and co-ownership
A fee simple absolute is the broadest estate. Lesser estates include life estates and leaseholds. Co-ownership may be tenancy in common, where shares may be unequal and there is no right of survivorship, or joint tenancy, which features survivorship and requires unity of time, title, interest, and possession. A condominium combines individual unit ownership with shared common elements governed by statute and association documents.
Interests and encumbrances
Easements may be appurtenant, benefiting a neighboring parcel, or in gross, benefiting a person or entity. A license is permission, revocable and not an easement. Liens, mortgages, encroachments, and deed restrictions burden title. Adverse possession in New Hampshire generally requires actual, open, notorious, exclusive, hostile, and continuous possession for twenty years.
Deeds and recording
A warranty deed contains covenants of title; a quitclaim deed conveys only whatever interest the grantor has. Deeds are recorded in the county registry of deeds, and recording protects against later claims. Title insurance protects lenders and owners against covered title defects. New Hampshire also imposes a real estate transfer tax on written transfers.
Trap: questions often describe a deed to two people as joint tenants and ask what happens on death. Survivorship passes the property to the survivor automatically, while a tenancy in common share would pass through the deceased owner's estate.
Rule of thumb: read the granting clause and the habendum for survivorship language before assuming joint tenancy.