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.
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