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Question

Dose the "Private Road Act (Act), Act of June 13, 1836, P.L. 551 as amended, 36 P.S. 2731 - 2891"or is their any other Pennsylvania law that fulfill the requirements of Fannie Mae where it states statutory provisions that define the responsibility of the property owner for the maintenance and repair private streets.See part of announcement 08-01 below As per Announcement 08-01 January 31, 2008 "If the property is located on a community-owned or privately-owned and maintained street, Fannie Mae will now require one of the following: 1. An adequate, legally enforceable agreement or covenant for maintenance of the street. a Responsibility for payment of repairs, including each party’s representative share; b Default remedies c The effective term of the If the property is located within a state that has statutory provisions that define the responsibilities of property owners for the maintenance and repair of a private street, no separate agreement or covenant is required.

Submitted: 20 days and 16 hours ago.
Category: Legal
Value: $48
Status: CLOSED
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State/Country relating to Question: Pennsylvania

Accepted Answer

In my view, 36 P.S. §2735 completely satisfies the Fannie Mae requirements, as follows:

 

"All private roads shall be opened, fenced and kept in repair by and at the expense of the person or persons respectively at whose request the same were granted and laid out, and by their heirs and assigns."

 

The above subsection satisfies the provision of "a state that has statutory provisions that define the responsibilities of property owners for the maintenance and repair of a private street."

 

Hope this helps.

 

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Expert: socrateaser
Pos. Feedback: 98.8 %
Accepts: 
Answered: 11/2/2009

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