New Hampshire Mortgage Deed and Security Agreement

Mortgage Deed and Security Instrument with Statutory Power of Sale

Use this form for financing real property, vacant land, rental units and small commercial property. (No conveyance in writing of lands shall be defeated nor any estate encumbered by an agreement unless it is inserted in the condition of the conveyance and made part thereof, stating the sum of money to be secured, or other thing to be performed.) (NH Rev Stat 479:2)

In order to record a mortgage it must contain (in the first sentence of the first description paragraph, the names of all municipalities in which the property is located)(NH Rev Stat 478:4-a(b))

(The words ""statutory power of sale'' shall be understood as giving the mortgagee and executors, administrators, successors and assigns the right, upon any default of the performance of the statutory condition as defined in paragraph II, or any other condition contained in the mortgage, to foreclose by sale under the provisions of RSA 479:25-27-a inclusive.) (NH Rev Stat Section 477:29 III) This can be very beneficial to the lender upon a default.

The Promissory Note also contains stringent terms and conditions such as late fees, default rates, obligations, etc. Can be used for conventional or balloon financing.

(New Hampshire Mortgage Deed Package includes forms, guidelines, and completed examples) For use in New Hampshire only.