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AARP and state prosecutors back bill to outlaw 'unfair service agreements' that cloud property titles
Summary
Senate Bill 164 would void long‑term, non‑title recorded agreements that companies attach to residential property records in exchange for upfront payments. AARP, the attorney general's elder‑abuse prosecutor and realtors supported the bill as a prophylactic against a predatory practice seen in other states.
Sen. Denise Ricciardi told the Commerce Committee Senate Bill 164 would prevent a class of contracts sometimes marketed to homeowners as short‑term cash in exchange for long‑term rights to future real estate brokerage or other personal services. "These quick cash marketing techniques used by out of state companies offer a nominal upfront payment in exchange for a 40 year agreement for future real estate brokerage and other personal home services," Ricciardi said.
AARP representatives Mike Padmore and volunteer state president Pat McDermott said the agreements frequently target older homeowners and can remain attached to property records for decades. "This bill provides automatic protections against such practices that could jeopardize the most important asset that we seniors have, which is our home," McDermott said.
Brian Townsend, senior assistant attorney general and lead prosecutor for the elder abuse and financial exploitation unit, told the committee the Consumer Protection Bureau would be able to treat attempts to use these agreements as unfair or deceptive practices under RSA 358‑A and pursue penalties, injunctive relief or criminal prosecution where appropriate. "This bill helps to address that," Townsend said, and he added the office had received more than 1,500 complaints of financial exploitation from older adults in New Hampshire in the prior year.
The New Hampshire Association of Realtors said it supported the bill after consulting with the sponsor and requested a technical change: extending a one‑year cure period in the draft to two years to match recently enacted Maine law. Realtor Chris Norwood said the association had not seen many instances in New Hampshire but supported preventive action.
The committee closed the hearing after receiving broad stakeholder support and said it would consider a small drafting change the sponsor had described.
Ending: Supporters said SB 164 aims to remove a predatory financial product before it becomes prevalent in New Hampshire; the attorney general's office said it had authority and staffing to enforce the law as drafted.
