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NJ A1240
Bill
Status
1/9/2024
Primary Sponsor
Alex Sauickie
Click for details
AI Summary
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Requires limited liability companies (LLCs) and foreign LLCs acquiring residential rental property to file an affidavit disclosing the name and business address of their registered agent for service of process when recording the deed
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Mandates that if the registered agent is not a member of the company, an additional affidavit identifying at least one member of the LLC must be appended to the deed
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Applies to all residential rental property transfers regardless of the number of dwelling units on the property
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Amends existing deed recording requirements under P.L.1968, c.49 to add LLC disclosure as a prerequisite for recording
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Takes effect immediately upon enactment
Legislative Description
Requires limited liability company disclose certain information when recording deed concerning residential rental property.
Housing
Last Action
Introduced, Referred to Assembly Housing Committee
1/9/2024