Bill
Bill > S889
NJ S889
NJ S889Requires limited liability company disclose certain information when recording deed concerning residential rental property.
summary
Introduced
01/27/2022
01/27/2022
In Committee
12/11/2023
12/11/2023
Crossed Over
12/11/2023
12/11/2023
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Requires limited liability company disclose certain information when recording deed concerning residential rental property.
AI Summary
This bill requires limited liability companies (LLCs) or foreign LLCs that purchase residential rental property in New Jersey to disclose certain information when recording the deed. Specifically, the LLCs must submit an affidavit identifying the registered agent for service of process, and if the registered agent is not a member of the company, an affidavit identifying at least one member of the company. This additional information must be provided regardless of the number of rental units in the property. The bill aims to increase transparency and accountability for LLCs that own residential rental properties in the state.
Committee Categories
Housing and Urban Affairs
Sponsors (3)
Last Action
Received in the Assembly, Referred to Assembly Housing Committee (on 12/11/2023)
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/S889 |
| Analysis - Statement SCU 12/1/22 | https://pub.njleg.gov/Bills/2022/S1000/889_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S1000/889_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/S1000/889_I1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S1000/889_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S1000/889_I1.PDF |
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