This bill mandates that when a limited liability company (LLC) or a foreign limited liability company is the grantee of a deed for residential real property intended for rental purposes, they must disclose specific information regarding their registered agent. The bill introduces new legal requirements that necessitate the submission of an affidavit containing the name and business address of the registered agent for service of process, as designated under existing law. Additionally, if the registered agent is not a member of the LLC, the company must also append an affidavit identifying at least one member of the company to the deed.

The bill amends Section 2 of P.L.1968, c.49 (C.46:15-6) to include these requirements, ensuring that this disclosure is made at the time of recording the deed. This requirement applies regardless of the number of dwelling units for rental on the property, thereby enhancing transparency and accountability for LLCs involved in residential rental transactions. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 46:15-6