VA issued Circular 26-22-17 (Circular), updating procedural requirements related to the acceptability of private roads and shared driveways. Per the Circular, an ongoing maintenance agreement from a homeowner’s association or a joint maintenance agreement from the owners of properties accessed by the private road or shared driveway is no longer required for properties with private roads and shared driveways. In addition, item 5 of the Notice of Value (NOV) is no longer required to be marked as the conditions addressed by item 5 no longer apply. However, a recorded permanent easement or recorded right-of-way from the property to a public road is still required to be placed in the loan file. The changes announced in the Circular went into effect November 25, 2022.
Click to view the VA Circular 26-22-17: https://www.tenaco.com/wp-content/uploads/2022/11/VA-Circular-26-22-17-11-25-22.pdf
