Translation:My uncle has walked on that street.
Or, alternatively, "My uncle ran on the street"? Laufen can mean walk or run, right?
Is there a way to distinguish whether to use "ist" or "hat" in a context such as this?
Have a look at http://www.dartmouth.edu/~deutsch/Grammatik/perfect/Perfect.html , starting at "The Auxiliary Verb".
Short version: The verbs that take "sein" are mostly predictable on the basis of their meaning. They must satisfy two conditions: 1) they must be intransitive; 2) they must indicate a change of position or of condition.