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re: Advice on starting a road maintenance fund?
Posted on 7/22/14 at 11:16 am to SmellslikeKevinBacon
Posted on 7/22/14 at 11:16 am to SmellslikeKevinBacon
How is the road owned? Does each family own a portion of the road? Is the road subject to some sort of common easement? Is the road part of each family's property?
I can think of a few options:
1) Set up an LLC, make each family a member of the LLC, and get an LLC account to handle everything. However, for the amount we are talking, it might not be worth that.
2) Talk to an escrow company and see if they can set up some sort of account for you, in which the company bills each family, and there is some sort of agreement required to expend funds.
3) Have someone pay for the entire repair, with notes signed by the other families to repay the monies.
I must say, it kind of sucks that you have concerns that your neighbors would either steal the money or not contribute their fair share.
I can think of a few options:
1) Set up an LLC, make each family a member of the LLC, and get an LLC account to handle everything. However, for the amount we are talking, it might not be worth that.
2) Talk to an escrow company and see if they can set up some sort of account for you, in which the company bills each family, and there is some sort of agreement required to expend funds.
3) Have someone pay for the entire repair, with notes signed by the other families to repay the monies.
I must say, it kind of sucks that you have concerns that your neighbors would either steal the money or not contribute their fair share.
Posted on 7/22/14 at 11:55 am to LSUFanHouston
The road is on family land, so each property owner had to give a little of the land for the road.
I do not think anyone would steal , I am more concerned with everyone putting up their share. Not everyone that lives by us is family. It would suck for others to put in more than others because they knew there was no way for anyone to know who put in what. Not saying it would happen but you never know.
I do not think anyone would steal , I am more concerned with everyone putting up their share. Not everyone that lives by us is family. It would suck for others to put in more than others because they knew there was no way for anyone to know who put in what. Not saying it would happen but you never know.
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