New Jersey A 4377: Requires DOT and OIT to develop materials concerning capabilities of airports in NJ and establishes "Public Use Airports Task Force."

Bill Text

A4377 

ASSEMBLY, No. 4377 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

INTRODUCED FEBRUARY 19, 2026

Sponsored by:

Assemblyman� ALEX SAUICKIE

District 12 (Burlington, Middlesex, Monmouth and Ocean)

SYNOPSIS

���� Requires limited liability company disclose certain 
information when recording deed concerning residential rental property. 

CURRENT VERSION OF TEXT 

���� As introduced.

�� 

An Act enhancing transparency of certain real estate transfers 
involving rental properties; amending P.L.1968, c.49 and supplementing 
P.L.2012, c.50 (C.42:2C-1 et seq.).

���� Be It 
Enacted by the Senate and General Assembly of 
the State of New Jersey:

���� 1.��� Section 2 of P.L.1968, 
c.49 (C.46:15-6) is amended to read as follows:

���� 2.��� In addition to other 
prerequisites for recording, no deed evidencing transfer of title to real 
property shall be recorded in the office of any county recording officer unless 
it satisfies the following requirements:

���� a.���� If the transfer is 
subject to any fee established under section 3 of P.L.1968, c.49 (C.46:15-7) or 
section 2 of P.L.2003, c.113 (C.46:15-7.1), a statement of the true 
consideration for the transfer shall be contained in the deed, the 
acknowledgment, the proof of the execution, or an appended affidavit by one of 
the parties to the deed or that party's legal representative.

���� b.��� If the transfer is 
exempt from any fee established under section 3 of P.L.1968, c.49 (C.46:15-7) 
or section 2 of P.L.2003, c.113 (C.46:15-7.1), an affidavit stating the basis 
for the exemption shall be appended to the deed.

���� c.���� If the transfer is of 
real property upon which there is new construction, the words "NEW 
CONSTRUCTION" in upper case lettering shall be printed clearly at the top 
of the first page of the deed, and an affidavit by the grantor stating that the 
transfer is of property upon which there is new construction shall be appended 
to the deed.

���� d.��� If the transfer 
involves a limited liability company or a foreign liability company as the 
grantee, and the transfer is of residential real property intended for rental 
purposes, regardless of the number of dwelling units for rental, an affidavit 
identifying the registered agent of the company, as required pursuant to 
section 2 or section 3 of P.L.��� , c.��� (C.������� or C.������� ) (pending 
before the Legislature as this bill), shall be appended to the deed.� 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. 

(cf: P.L.2004, c.66, s.2)

���� 2.��� (New section)� When a 
limited liability company is the grantee of a deed for residential real 
property and such property is intended to be used for rental purposes, 
regardless of the number of dwelling units for rental, the company shall submit 
for recording, together with the deed, an affidavit disclosing the name and 
business address of the registered agent for service of process of the limited 
liability company designated pursuant to section 14 of P.L.2012, c.50 
(C.42:2C-14).� If the registered agent is not a member of the company, the 
company shall append to the deed an affidavit identifying at least one member 
of the company.

���� 3.��� (New section)� When a 
foreign limited liability company is the grantee of a deed for residential real 
property, and such property is intended for rental purposes, regardless of the 
number of dwelling units for rental, the company shall submit for recording, 
together with the deed, an affidavit disclosing the name and business address 
of the registered agent for service of process of the foreign limited liability 
company designated pursuant to section 14 of P.L.2012, c.50 (C.42:2C-14).� If the 
registered agent is not a member of the company, the company shall append to 
the deed an affidavit identifying at least one member of the company.

���� 4.� This act shall take effect 
immediately.

STATEMENT

���� 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.