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NJ A4017
Bill
Status
2/12/2026
Primary Sponsor
Alex Sauickie
Click for details
AI Summary
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Requires domestic and foreign limited liability companies purchasing residential rental property (1-2 units or multiple dwellings) to file an affidavit disclosing the registered agent's name and business address, plus at least one member if the agent is not a member.
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Mandates disclosure of beneficial owner information including full legal name, date of birth, current business street address, and a unique identifying number from acceptable identification documents as defined under federal law.
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Defines "beneficial owner" as an individual who directly or indirectly owns at least 25% of the entity and holds the greatest ownership interest, or if no one owns more than 25%, the individual with the greatest ownership interest.
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Authorizes municipalities to adopt ordinances allowing unpaid housing, building, or health code charges against LLC-owned rental properties to become liens if unpaid after 13 months, enforceable like real property tax liens.
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Requires municipalities to provide 90 days written notice to property owners before converting unpaid charges to liens, with opportunity to pay or request a hearing.
Legislative Description
Requires limited liability company to disclose ownership information when submitting deed for recording.
Commerce and Economic Development
Last Action
Introduced, Referred to Assembly Commerce and Economic Development Committee
2/12/2026