This bill mandates that limited liability companies (LLCs) and foreign limited liability companies that are grantees of deeds for residential real property containing one to two dwelling units or multiple dwellings must disclose their ownership information when submitting the deed for recording. Specifically, the bill requires that an affidavit identifying the registered agent of the company be appended to the deed. If the registered agent is not a member of the company, the company must also provide an affidavit identifying at least one member of the company. This new requirement is inserted into Section 2 of P.L.1968, c.49 (C.46:15-6) as a new subsection.

Additionally, the bill allows municipalities to enact ordinances that enable charges issued to these LLCs or foreign LLCs, related to housing, building, or health codes, to become liens on the property if they remain unpaid for a specified period. The municipality must provide written notice to the property owner and other interested parties at least 90 days before filing an unpaid charge as a municipal lien. This provision aims to enhance accountability and ensure compliance with local regulations by making it easier for municipalities to enforce penalties related to residential properties owned by LLCs.

Statutes affected:
Introduced: 46:15-6