Requires limited liability company to disclose ownership information when submitting deed for recording.

This bill (A4017) requires limited liability companies (LLCs) and foreign LLCs purchasing residential rental properties to disclose ownership details when recording deeds. Specifically, it mandates an affidavit for properties with one or two dwelling units or multiple dwellings intended for rental use, including the registered agent’s name/address and the beneficial owner’s full name, date of birth, current address, and a unique ID number. The beneficial owner is defined as an individual owning at least 25% of the LLC or holding the greatest ownership interest. This applies only to residential rental property transfers and does not affect commercial transactions. The bill aims to enhance transparency in real estate ownership for specific rental properties.