ASSEMBLY HOUSING COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4017

STATE OF NEW JERSEY

DATED:  OCTOBER 5, 2026

      The Assembly Housing Committee reports favorably Assembly Bill No. 4017.

As reported, 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, as defined in the bill, of the company when it files a deed for recording.

      The bill requires the limited liability company or foreign limited liability 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 also permits 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 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.