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NJ S564
NJ S564Requires limited liability company to disclose ownership information when submitting deed for recording.
summary
Introduced
01/11/2022
01/11/2022
In Committee
06/02/2022
06/02/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill would require a limited liability company or foreign limited liability company that is the grantee of a deed for residential real property containing one to two dwelling units to disclose the registered agent of the company when it files a deed for recording. If the registered agent is not a member of the company, an affidavit identifying at least one member of the company shall be appended to the deed. Under this circumstance, the bill requires a company to submit for recording, together with the deed, an affidavit identifying the name and business address of the registered agent for service of process of the limited liability company.
AI Summary
This bill would require a limited liability company (LLC) or foreign LLC that is the grantee of a deed for residential real property containing one to two dwelling units, or a multiple dwelling, to disclose the registered agent of the company when it files the deed for recording. If the registered agent is not a member of the company, the LLC must also append an affidavit identifying at least one member. Additionally, the bill allows municipalities to direct, by ordinance, that any charges issued to an LLC or foreign LLC that is a grantee of such a deed be converted into a municipal lien on the property if the charges remain unpaid for over a year, with certain notice requirements.
Committee Categories
Housing and Urban Affairs
Sponsors (4)
Last Action
Reported from Senate Committee with Amendments, 2nd Reading (on 06/02/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S564 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S1000/564_R1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S1000/564_R1.PDF |
| Statement SCU 6/2/22 | https://www.njleg.state.nj.us/Bills/2022/S1000/564_S1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S1000/564_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S1000/564_I1.PDF |
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