Private Roadway Maintenance Agreements Legislation Signed into Law

“PAR has heard countless stories from members from around the state about closings being delayed or deals collapsing due to private roadway issues,” said PAR President Christopher Raad. “PAR strongly advocated for passage of this legislation and we’re pleased that the legislature recognized the importance of amending this statute.”

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Bill would provide shared responsibility among homeowners on private roadways

Some Realtors® have seen a disruption in home sales, specifically with properties that contain or are bordered by a private road. Regulations for federally backed mortgages like Fannie Mae, VA, USDA and FHA loans require these properties to have an agreement for the maintenance of the private roadway, outlining responsibility of repairs, including what each owner’s share is, remedies for default and terms of the agreement.

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