Trenton, NJ – A new proposal introduced in the New Jersey Assembly aims to bring greater transparency to real estate transactions involving limited liability companies (LLCs). Assembly Bill A4017, sponsored by Assemblyman Alex Sauickie (R–12), would require LLCs and foreign LLCs that purchase residential properties to disclose their beneficial owners when submitting deeds for recording.
The legislation, introduced on February 12, 2026, comes amid growing concern about the rise of anonymous property ownership through shell companies, particularly in residential real estate.
Under the bill, any LLC purchasing residential property intended for rental use — including one- or two-family homes or multi-dwelling buildings — would need to include an affidavit with the deed. That affidavit must list the company’s registered agent and the beneficial owner’s identifying information:
- full legal name
- date of birth
- business street address
- and a unique ID number from an accepted identification document.
If the registered agent is not a member of the company, the affidavit must also identify at least one company member.
The bill defines a “beneficial owner” as any individual who directly or indirectly owns at least 25 percent of the entity’s ownership interests — or, in companies with no owner above that threshold, the individual with the greatest ownership interest.
Municipalities would also gain new enforcement authority under the proposal. Towns could, by ordinance, convert unpaid housing, building, or health code fines issued to LLC-owned residential properties into tax liens if they remain unpaid for more than 12 months.
- Bill A4017 introduced by Assemblyman Alex Sauickie (R–12)
- LLCs buying rental homes must disclose ownership in public deed filings
- Towns could place liens on LLC-owned properties with unpaid code violations
Supporters say the measure would make it easier for local governments and residents to identify who truly owns rental properties — particularly in communities struggling with absentee landlords or code enforcement challenges.
If enacted, the measure would take effect immediately.