| 59 | | - | An Act enhancing transparency of certain real estate transfers, 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 is of residential real property intended for rental purposes containing one or two dwelling units 1or a multiple dwelling1 to a limited liability company or foreign limited liability company, an affidavit identifying the registered agent of the company, as required pursuant to section 2 or section 3 of P.L. , c. (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 intended for rental purposes containing one or two dwelling units 1or a multiple dwelling1, together with the deed, the company shall submit for recording 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 intended for rental purposes containing one or two dwelling units 1or a multiple dwelling1, together with the deed, the company shall submit for recording, 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. 14. (New section) A municipality may direct by ordinance of the governing body that any charge issued to a limited liability company or foreign limited liability company that is a grantee of a deed for residential real property intended for rental purposes containing one or two dwelling units or a multiple dwelling pursuant to a housing code, building code, or health code, concerning residential property leased by the limited liability company or foreign limited liability company, shall become a lien on the property, enforceable in the manner provided for real property tax liens in chapter 5 of Title 54 of the Revised Statutes, if the charge remains unpaid on the first day of the thirteenth month next following the date when the charge becomes due and owing. At least 90 days prior to filing an unpaid charge as a municipal lien against the property pursuant to this section, the municipality shall serve written notice to the property owner, and the other parties in interest, indicating that if the charge remains unpaid it shall be converted into a municipal lien, and shall provide the owner the opportunity to pay the fine or request a hearing before a court of competent jurisdiction. If the limited liability company or foreign limited liability company is not registered, in violation of section 2 of P.L.1974, c.50 (C.46:8-28), then this additional notice requirement concerning the landlord shall not apply prior to conversion into a municipal lien. In a municipality that has adopted an ordinance pursuant to this subsection, at the time when the charge becomes a lien, the municipal officer responsible for housing code enforcement shall file a copy of the lien and certification with the municipal tax collector. This lien shall be added to and become and form part of the taxes next to be assessed and levied upon such dwelling or lands, the same to bear interest at the same rate as taxes, and shall be collected and enforced by the same officers and in the same manner as taxes. b. As used in this section, "charge" means any fee, fine, penalty, or other charge issued to a landlord, concerning residential property leased by the landlord, pursuant to a housing, building, or health code.1 1[4.] 5.1 This act shall take effect immediately. |
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| 57 | + | An Act enhancing transparency of certain real estate transfers, 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 is of residential real property intended for rental purposes containing one or two dwelling units to a limited liability company or foreign limited liability company, an affidavit identifying the registered agent of the company, as required pursuant to section 2 or section 3 of P.L. , c. (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 intended for rental purposes containing one or two dwelling units, together with the deed, the company shall submit for recording 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 intended for rental purposes containing one or two dwelling units, together with the deed, the company shall submit for recording, 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 that is the grantee of a deed for residential real property containing one to two dwelling units to disclose the registered agent of the company when it files a deed for recording. 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. Under this circumstance, the bill requires a company to submit for recording, together with the deed, an affidavit identifying the name and business address of the registered agent for service of process of the limited liability company. |
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