Members of LLCs just lost some of their anonymity in residential real estate transactions in New York State.
An amendment to Sec. 1409 of the Tax Law requires form TP-584 (which is required to be submitted to the County Clerk for a deed to be recorded) to list all the members, managers or persons in authority on an attachment to the form.
The list has to include “business addresses” of each person as well and applies to both grantors and grantees. No official schedule or attachment has been promulgated yet though the law was effective immediately on September 20, 2019.
This applies only to real estate transactions involving 1-4 family residential properties.
Here’s a link to the text of the law: