New Jersey Bill Seeks LLC Homeowner Transparency
New Jersey lawmakers advanced a bill requiring LLCs that buy residential properties for rental to disclose their major owners on deeds. The legislation aims to help municipalities enforce code violations.
New Jersey lawmakers are advancing a bill requiring LLCs purchasing residential rental property to disclose individual owners holding at least a 25% stake. The measure addresses municipal challenges in enforcing housing codes against anonymous entities. Corporate homeownership in Monmouth and Ocean counties doubled between 2012 and 2022, according to data cited in the legislation.
