New Hampshire Code of Administrative Rules
Rev - Department of Revenue Administration
Chapter Rev 800 - TRANSFER OF REAL PROPERTY
Part Rev 801 - DEFINITIONS
Section Rev 801.02 - Beneficial interest in the trust is not represented by transferrable shares
Universal Citation: NH Admin Rules Rev 801.02
Current through Register No. 12, March 21, 2024
"Beneficial interest in the trust is not represented by transferrable shares" means, for the purposes of Rev 802.02, an interest in an organization:
(a) Where property is placed in the hands of a trustee who:
(1) Acts apart from the
beneficiaries; and
(2) Manages and
deals with the property as principal for the use and benefit of the
beneficiaries;
(b) Where the shares, equity interests and all ownership rights are not transferable without obtaining prior member approval or causing a dissolution of the organization; and
(c) Which is not a:
(1) Corporation;
(2) Joint stock company;
(3) Business trust;
(4) Common law trust;
(5) Massachusetts trust;
(6) Real estate investment trust;
or
(7) Homeowners or condominium
association.
#5300, eff 12-26-91; ss by #6691, eff 2-21-98, EXPIRED: 2-21-06
New. #8579, eff 3-8-06
Disclaimer: These regulations may not be the most recent version. New Hampshire may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
