Lots created under the authority derived from Chapter 213 of the Acts of 1870 shall be deemed to have been granted in fee simple absolute with transferable access rights that run with the land and provide for residential use of the property. Forty-foot wide ways shall be laid out over public lands, including any land held by a land bank, to provide the shortest path to a public way for vehicular access and underground utilities to any lot created by the Act that does not have an express easement. If public lands are not available to provide a necessary easement to any lot created by the Act, new forty-foot wide easements shall be created to the nearest public way, with just compensation paid to the servient owner by the dominant estate.
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