This bill mandates that limited liability companies (LLCs) and foreign limited liability companies that are grantees of deeds for residential real property intended for rental purposes, specifically those containing one or two dwelling units, must disclose ownership information when submitting the deed for recording. The new legal requirements include appending an affidavit that identifies the registered agent of the company, as well as an affidavit identifying at least one member of the company if the registered agent is not a member.

The bill amends Section 2 of P.L.1968, c.49 (C.46:15-6) to include this new requirement as part of the prerequisites for recording a deed. Additionally, it introduces new sections that specifically outline the obligations for both LLCs and foreign LLCs regarding the disclosure of their registered agents and members when dealing with residential properties intended for rental. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 46:15-6