This bill mandates that limited liability companies (LLCs) and foreign limited liability companies that are grantees of deeds for residential real property, specifically those containing one or two dwelling units or multiple dwellings, must disclose ownership information when submitting the deed for recording. The companies are required to append an affidavit to the deed that identifies the registered agent and the beneficial owners of the company. The bill defines a "beneficial owner" as an individual who either directly or indirectly owns at least 25% of the ownership interests in the entity or, if no individual meets that threshold, the individual who holds the greatest ownership interest. The affidavit must include the full legal name, date of birth, current business address, and a unique identifying number for each beneficial owner.

Additionally, the bill allows municipalities to enact ordinances that enable charges issued to these LLCs or foreign LLCs under housing, building, or health codes to become liens on the property if unpaid after 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 lien will be treated similarly to real property tax liens, ensuring that it can be collected and enforced in the same manner. The bill aims to enhance transparency in property ownership and ensure accountability for property-related charges.

Statutes affected:
Introduced: 46:15-6