Bill
Bill > S278
NJ S278
NJ S278Requires limited liability company disclose certain information when recording deed concerning residential rental property.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill would require a limited liability company or foreign limited liability company disclose information pertaining to the company's registered agent when that company is the grantee of a deed for residential real property and such property is intended to be used for residential rental purposes. The disclosure of this information would be made at the time when the company files the deed for recording. In addition, 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. The disclosures called for in this bill would be required regardless of the number of rental dwelling units contained on the property.
AI 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 intended to be used for rental purposes to disclose the name and business address of the company's registered agent for service of process when filing the deed for recording. If the registered agent is not a member of the company, the company must also append an affidavit identifying at least one member of the company. These disclosure requirements would apply regardless of the number of rental dwelling units on the property.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/09/2024)
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/2024/S278 |
| BillText | https://pub.njleg.gov/Bills/2024/S0500/278_I1.HTM |
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