New Jersey S401 mandates limited liability companies to disclose specific information when recording a deed for residential rental property.

New Jersey S401 requires limited liability companies to disclose certain information when recording a deed for residential rental property. This includes appending an affidavit identifying the registered agent of the company or, if the registered agent is not a member of the company, an affidavit identifying at least one member of the company. Additionally, if the transfer is subject to a fee, a statement of the true consideration for the transfer must be included. The bill applies regardless of the number of rental dwelling units on the property.

New Jersey S401 mandates limited liability companies to disclose specific information when recording a deed for residential rental property.

New Jersey S401 requires limited liability companies to disclose certain information when recording a deed for residential rental property. This includes appending an affidavit identifying the registered agent of the company or, if the registered agent is not a member of the company, an affidavit identifying at least one member of the company. Additionally, if the transfer is subject to a fee, a statement of the true consideration for the transfer must be included. The bill applies regardless of the number of rental dwelling units on the property.