SENATE COMMUNITY AND URBAN AFFAIRS COMMITTEE
STATEMENT TO
SENATE, No. 399
with committee amendments
STATE OF NEW JERSEY
DATED: FEBRUARY 5, 2026
The Senate Community and Urban Affairs Committee reports favorably and with committee amendments Senate Bill No. 399.
As amended and 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 the registered agent and the beneficial owner of the company when it files a deed for recording.
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 and 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.
A company that violates the disclosure requirements would be subject to a penalty of $5,000 per violation assessed and to be collected by the municipality in which the property is located.
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, or penalties pursuant to the bill 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. The bill would take effect immediately.
This bill was prefiled for introduction in the 2026-2027 session pending technical review. As reported, the bill includes the changes required by technical review, which has been performed.
COMMITTEE AMENDMENTS:
The committee amended the bill to establish a penalty of $5,000 per violation of certain provisions of the bill.