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Bill > A4017
NJ A4017
NJ A4017Requires limited liability company to disclose ownership information when submitting deed for recording.
summary
Introduced
02/12/2026
02/12/2026
In Committee
02/12/2026
02/12/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 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, or that is a multiple dwelling, to disclose each beneficial owner of the company when it files a deed for recording. The bill defines "beneficial owner." The bill requires the company to submit for recording, together with the deed, an affidavit containing the name and business address of the registered agent for service of process, along with the following information of each beneficial owner for service of process of the limited liability company: (1) full legal name; (2) date of birth; (3) current business street address; and (4) a unique identifying number from an acceptable identification document. The bill would also permit a municipality to direct, by ordinance, that charges issued to certain limited liability companies or foreign limited liability companies pursuant to a housing code, building code, or health code will become a lien on the property if the charge remains unpaid on the first day of the 13th month next following the date when the charge becomes due and owing.
AI Summary
This bill requires limited liability companies (LLCs) and foreign LLCs that acquire deeds for residential rental properties with one or two dwelling units, or multiple dwellings, to disclose ownership information when filing the deed for recording. Specifically, the LLC must submit an affidavit along with the deed that includes the name and business address of its registered agent (the person designated to receive legal documents on behalf of the company) and details about each "beneficial owner." A beneficial owner is defined as an individual who directly or indirectly owns at least 25% of the company's ownership interests and holds the greatest ownership interest, or if no one owns more than 25%, the individual with the greatest ownership interest. The affidavit must provide the beneficial owner's full legal name, date of birth, current business street address, and a unique identification number from an acceptable identification document. Additionally, the bill allows municipalities to pass ordinances making unpaid housing, building, or health code charges against certain LLCs or foreign LLCs a lien on the property if the charges remain unpaid for over a year, meaning the property could be seized to cover the debt.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Commerce and Economic Development Committee (on 02/12/2026)
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/2026/A4017 |
| BillText | https://pub.njleg.gov/Bills/2026/A4500/4017_I1.HTM |
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