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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vi/1256/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f)›§ 1256 - Managing entity
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256 - Managing entity
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(1) Prior to offering timeshares, vacation club rights or accommodations, the developer of a timeshare plan or vacation club shall create or provide for a managing entity which must be the developer, a property management firm, a hotel management firm, an owners’ association, a trust, an incorporated club, or some combination thereof. The managing entity of a vacation club may also be the component site managing entity of one or more component sites; however, in such event, unless the vacation club is comprised exclusively of nonspecific vacation club rights, the funds, including reserves, and the books and records of the vacation club and of the component site or sites involved shall not be commingled for longer than a thirty-day period after the managing entity receives funds from an owner. The financial books and records of a timeshare plan or vacation club shall be maintained by the managing entity in accordance with generally accepted accounting principles and audited annually by an independent certified public accountant in accordance with the standards of the Accounting Standards Board of the American Institute of Certified Public Accountants, with a copy of such audit being filed annually with the Company. All expenses associated with such audit shall be common expenses.
(2) The managing entity shall fully comply with the provisions of this chapter; however, with respect to a particular component site, the vacation club managing entity shall not be responsible for any wrongful acts or omissions of the applicable component site managing entity, unless the vacation club managing entity is also the component site managing entity.
History —Dec. 26, 1995, No. 252, § 6-101.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vi/1256a/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f)›§ 1256a - Assessments for common expenses; subsidization by developer
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256a - Assessments for common expenses; subsidization by developer
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Until a managing entity is created or provided pursuant to § 1256 of this title, the developer shall pay all common expenses of a timeshare plan or vacation club. The timeshare or vacation club documents shall provide for the allocation of common expenses among all owners of accommodations, timeshares or vacation club rights, including accommodations, timeshares or vacation club rights owned or not yet sold by the developer and the accommodations, with respect to which, the developer may have made a reservation of the use dedication as provided for in § 1264(2)(d) of this title, as calculated by reference to the maximum number of accommodations, timeshares or vacation club rights which the developer may sell and continue to comply with the one-to-one purchaser to accommodation ratio requirement in the case of timeshares and vacation club rights. The developer may exclude, in the case of the accommodations sold or to be sold, a portion of the common expenses which are not common to all owners of the regime and which do not benefit such accommodations. The timeshare or vacation club documents shall allocate common expenses to timeshares, vacation club rights and accommodations owned or not yet sold by the developer on the same basis that common expenses are allocated to similar or equivalent timeshares, vacation club rights and accommodations sold to owners; provided, however, that the developer may, in lieu of paying any assessments arributable to each unsold timeshare, vacation club right or accommodation, enter into a subsidy agreement with the managing entity, pursuant to which the developer agrees to pay to the managing entity, on a monthly basis, the difference between:
(1) The timeshare’s plan or vacation club’s total common expenses and any extraordinary or unbudgeted expenses for such month, and
(2) the aggregate common expenses and special assessments actually collected from the owners of accommodations, timeshares or vacation club rights (other than the developer) during the applicable month. The subsidy agreement must also require the developer to fully fund reserves within thirty (30) days after the end of the fiscal year for which the subsidized budget was prepared to any extent such reserves are not funded at that time by collections from owners of accommodations, timeshares or vacation club rights (other than the developer). The developer of a vacation club may enter into a subsidy agreement with respect to the common expenses of one or more component sites, the common expenses of the vacation club, or both as may be provided in the vacation club documents. The developer’s subsidy obligation shall be secured by a surety bond, irrevocable letter of credit, cash deposit, escrow, or other means or device acceptable to the Company; Provided, however, That the Company may by regulation establish financial and other standards pursuant to which a developer may be exempted from the aforesaid security requirement.
History —Dec. 26, 1995, No. 252, § 6-102; Jan. 5, 1999, No. 3, § 31.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vi/1256b/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f)›§ 1256b - Duties of managing entity regarding property and component site
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256b - Duties of managing entity regarding property and component site
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(1) Prior to representing in any manner that an accommodation is part of a timeshare plan or vacation club component site, the developer or the managing entity must determine and certify to the Company, to the best of the declarer’s knowledge based upon all available information, the following information with respect to the timeshare plan or each vacation club component site:
(a) That all assessments on accommodations owned or otherwise controlled by the developer are fully paid as required by applicable law and the timeshare or vacation club documents;
(b) the aggregate amount of delinquent assessments due with respect to the timeshare plan or component site, if any, and
(c) a statement that the latest annual financial statement or audit of the timeshare’s plan or component site’s books and records shows that to the extent required by applicable law or the timeshare or vacation club documents, adequate reserves have been fully financial and maintained.
(2) The certification described in subsection (1) of this section shall [be] renewed at least annually. In the event that the developer or the managing entity determines that the status of any timeshare plan or component site has materially changed such that any component of the certification described in subsection (1) of this section is no longer materially accurate, the developer or managing entity shall promptly notify the Company of the change.
(3) The managing entity shall owe a fiduciary duty to each owner of a timeshare, vacation club right or accommodation with respect to the overall operation and management of the timeshare plan or vacation club, including without limitation the incurring of expenditures and obligations and the contracting or subcontracting for services and supplies. In the discharge of such fiduciary duty, the managing entity shall exercise due diligence in procuring such supplies or services as may be required by the timeshare plan or vacation club from third parties at competitive prices, in keeping with the quality standards of the timeshare plan or vacation club in question, and shall report as part of its managing fee collected, in addition to its contractually stated managing fee, any amounts or the value of any benefits received by the managing entity from any supplier of goods or services to the timeshare plan or vacation club.
History —Dec. 26, 1995, No. 252, § 6-103.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vi/1256c/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f)›§ 1256c - Collection of assessments and payment of timeshare plan and component site common expenses...
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256c - Collection of assessments and payment of timeshare plan and component site common expenses; escrow or trust account
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(1) A managing entity and a component site managing entity shall owe a fiduciary duty to each owner of an accommodation, timeshare or vacation club right with regard to the collection of assessments and the disbursement of timeshare plan or vacation club funds to pay the common expenses.
(2) The vacation club managing entity shall establish an escrow or trust account with an escrow agent or a trustee that is not an affiliate of the developer, the vacation club managing entity, or any component site managing entity, and shall deposit or cause to be deposited into such escrow or trust account all payments received from time to time by the vacation club managing entity from the developer and the other owners of accommodations or vacation club rights that relate to common expenses incurred in connection with any component site or portion thereof. The vacation club managing entity shall not be required to escrow or deposit into the trust account payments received from the developer or owners that relate to other common expenses of the vacation club, including those allocable to the vacation club managing entity’s management fee and to the operation of the reservation system.
(a) Funds may only be disbursed from the escrow or trust account by the escrow agent or trustee upon receipt of an affidavit or declaration under affirmation, subject to the penalties for perjury under the Penal Code, from the vacation club managing entity specifying the purpose for which the disbursement is requested and making reference to the budgetary source of authority for such disbursement, if any. The escrow agent or trustee shall only disburse monies from the escrow or trust account relating to a particular component site directly to the managing entity of that component site, except for real estate tax payments which may [be] disbursed from the escrow account directly to the appropriate tax collection authority pursuant to applicable law.
(b) The escrow agent or trustee shall be entitled to rely upon the affidavit of the vacation club managing entity and shall have no obligation independently to ascertain the propriety of any requested disbursement, so long as the escrow agent or trustee has no actual knowledge that the affidavit is false in any material respect.
(c) The escrow agent or trustee shall maintain the escrow or trust account only in such a manner as to be under the direct supervision and control of the escrow agent or trustee. The escrow agent or trustee shall owe a fiduciary duty to the vacation club managing entity and to each owner of an accommodation or vacation club right to maintain the escrow or trust account in accordance with generally accepted accounting principles and to disburse funds from the escrow or trust account only in accordance with subsection (c)(2) of this section. The escrow agent or trustee shall retain all affidavits received pursuant to subsection (c)(2) of this section for a period of five (5) years. Should the escrow agent or trustee receive any conflicting demands for the escrowed or trust funds, the escrow agent or trustee shall immediately notify the Company of the dispute and promptly either submit the matter to arbitration or, by interpleader or other means, seek an adjudication of the matter by a court of competent jurisdiction.
(d) Any vacation club managing entity that intentionally fails to comply with the provisions of subsection (c)(2) of this section concerning the establishment of an escrow or trust account, the deposit of funds into the escrow or trust account, and the disbursement of such funds is guilty of unlawful appropriation, as defined in § 4271 of Title 33, or aggravated unlawful appropriation, as defined in § 4272 of Title 33, as may be applicable. A vacation club managing entity’s failure to establish such an escrow or trust account or to deposit funds therein as required by this subsection shall constitute prima facie evidence of an intentional and purposeful violation of this section.
(3) In lieu of satisfying the escrow or trust requirements of subsection (c)(2) of this section, and in recognition of the impossibility or impracticability of a vacation club managing entity’s satisfying some of such requirements, the Company shall have discretion to accept other financial assurances that funds will be available to pay the common expenses of each component site of a vacation club, including but not limited to a surety bond or an irrevocable letter of credit issued in such minimum amount as the Company deems reasonably necessary in order to accomplish such goal.
(4) The provisions of this section shall not apply to any payments made directly to a component site managing entity by the owner of an accommodation or vacation club right.
(5) The managing entity of a timeshare plan or a vacation club may deny the use of the accommodations and facilities of the timeshare plan or vacation club to any owner who is delinquent in the payment of any assessments for common expenses. A managing entity desiring to deny the use of accommodations and facilities of a timeshare plan or vacation club to third parties receiving use rights in the delinquent owner’s timeshare or vacation club period through an affiliated exchange program shall notify the affiliated exchange company in writing of the denial of use. The receipt of such written notice by the affiliated exchange company shall be effective to bar the use of all third parties claiming through the affiliated exchange program and shall be binding upon all third parties claiming through the affiliated exchange program until such time as the affiliated exchange company receives notice from the managing entity that the owner is no longer delinquent. However, any third party claiming through the affiliated exchange program who has received a confirmed assignment of the delinquent owner’s use rights from the affiliated exchange company prior to the expiration of forty-eight (48) hours after the receipt by the affiliated exchange company of such written notice from the managing entity shall be permitted by the managing entity to use the accommodations and facilities of the timeshare plan or vacation club to the same extent that he would be allowed to use such accommodations and facilities if the delinquent owner were not delinquent.
History —Dec. 26, 1995, No. 252, § 6-104; July 5, 1996, No. 66, § 24.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vi/1256d/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f)›§ 1256d - The reservation system
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256d - The reservation system
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(1) The reservation system of a vacation club having non-specific vacation club rights, or of a timeshare plan having nonspecific timeshare rights, shall be subject to the requirements for subordination or other financial assurances set forth in §§ 1254—1254b of this title. Prior to offering vacation club rights or nonspecific timeshare rights, a developer shall create or provide a reservation system, including all appropriate computer hardware and software which is necessary to satisfy owners reasonable expectations concerning the use and occupancy of the accommodations, based upon the developer’s representations and the terms and conditions of the vacation club or timeshare plan documents, and establish rules and regulations for its operation. In establishing such rules and regulations, the developer shall take into account the anticipated demand for use and occupancy of the accommodations in view of the size and type of each accommodation, each component site location (in the case of a vacation club), the time of year, the projected common expenses from year to year, and all other relevant factors, and shall use its good faith best efforts, based upon all evidence reasonably available to the developer under the circumstances, to maximize the collective opportunities for all the owners of vacation club rights or nonspecific timeshare rights to use and occupy the vacation club’s or timeshare plan’s accommodations. Such rules and regulations shall also provide for periodic modification of the reservation system’s demand balancing criteria by the developer or the managing entity in order to reflect as accurately as possible actual patterns of reservation requests and use and occupancy of the accommodations by owners from time to time.
(2) The person(s) authorized by the vacation club or timeshare plan documents to make additions or substitutions of accommodations to the vacation club or timeshare plan pursuant to § 1255b of this title, shall owe a fiduciary duty to each owner of a vacation club right or nonspecific timeshare right to act in the collective best interests of all such owners in connection with any such addition or substitution and to adhere to the demand balancing standard set forth in subsection (1) above in ascertaining the desirability of any proposed addition or substitution and the anticipated impact thereof upon the practical ability of owners to reserve, use, and occupy the accommodations.
(3) Prior to offering any vacation club rights in a vacation club or nonspecific timeshare rights in a timeshare plan, a developer shall provide to the Company satisfactory evidence of the existence of the vacation club’s or timeshare plan’s reservation system and shall certify to the Company that such reservation system is fully operative.
(4) Any agreement between a vacation club or timeshare plan and a reservation system provider must state that, following a termination of the provider’s contract by either party, the reservation system provider will, in the vacation club’s or timeshare plan’s managing entity’s sole discretion, either:
(a) Permit the vacation club or timeshare plan to utilize the reservation system for a transition period of up to nine (9) months in the same manner and at the same cost as the vacation club or timeshare plan utilized the reservation system prior to the termination in order to afford the managing entity a reasonable opportunity to obtain a new reservation system and arrange for the transfer of all relevant data from the old reservation system to the new reservation system as described in subsection (b) below.
(b) Promptly transfer to the vacation club or timeshare plan managing entity all relevant data contained in the reservation system, including but not limited to the names, addresses, and reservation status of accommodations at the vacation club’s component sites or timeshare property, the names and addresses of all owners, all outstanding confirmed reservations and reservation requests, and such other owner and component site or timeshare property records and information as is sufficient, in the reasonable discretion of the managing entity, to permit the uninterrupted operation and administration of the vacation club or timeshare plan for the collective benefit of owners of vacation club rights or nonspecific timeshare rights therein. All reasonable costs incurred by the reservation system provider in effecting such transfer shall be reimbursed thereto and shall constitute common expenses of the vacation club or timeshare plan.
(5) The vacation club or timeshare plan managing entity (in timeshare plans having nonspecific timeshare rights) shall prepare and file with the Company, not later than April 1 of each year, a report which, at the managing entity’s option, includes the information contained in one of the following subsections:
(a) Based upon actual data derived from the previous calendar year, the amount of time (in days, weeks, months, or years) in advance of the initial use period of an owner’s desired occupancy of an accommodation which the managing entity reasonably and in good faith estimates that an owner must submit a reservation request in order to obtain a confirmed reservation for each component site of the vacation club or for the timeshare property. To the extent relevant, such information shall also reference any differences in estimated advance reservation time based upon accommodation size and type and the time of year in which such use and occupancy is sought.
(b) In chart, summary, or other format acceptable to the Company:
(i) The total number of owners of vacation club rights or nonspecific timeshare rights as of December 31 of the previous calendar year.
(ii) The number of accommodations at each component site or timeshare property having nonspecific timeshare rights that were available for use and occupancy by owners as of December 31 of the previous calendar year.
(iii) For each component site or timeshare property having nonspecific timeshare rights with respect to the previous calendar year, the total number of reservation requests properly submitted in accordance with the reservation system’s rules and regulations that were received, the number of such reservation requests fulfilled, and the number of such reservation requests denied. Such information shall be accompanied by a complete and accurate description of the criteria used by the managing entity to determine whether a particular reservation request was submitted in accordance with the reservation system’s rules and regulations.
A copy of such report shall also be mailed or delivered to each owner of a vacation club right or nonspecific timeshare right not later than April 1 of each year.
History —Dec. 26, 1995, No. 252, § 6-105; July 5, 1996, No. 66, § 25.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vi/1256e/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f)›§ 1256e - Recall of managing entity
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256e - Recall of managing entity
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In addition to any other manner which may be provided for in the timeshare or vacation club documents, the owners may discharge the managing entity only for cause, in the manner provided for in this section:
(1) Any owner may deliver to the entity to be designated by the developer for such purpose in the bylaws referred to in § 1267 of this title, and which shall not be the managing entity, (hereinafter the “Recall Committee”) a petition containing the language of a proposed ballot affording the opportunity to indicate a preference between retaining and discharging the present managing entity. Such petition must be signed by owners holding at least ten percent (10%) of the voting power of all the owners. There shall be attached to the petition, a writing of not more than seven-hundred fifty (750) words supporting discharge of the managing entity. The Recall Committee shall cause a copy of said petition to be delivered to the managing entity within five (5) days of its receipt. Not earlier than twenty (20) days nor later than thirty (30) days after receipt of the petition, the Recall Committee shall mail to each owner:
(a) A ballot affording the opportunity to indicate a preference between retaining and discharging the managing entity;
(b) a copy of any writing properly delivered with the petition;
(c) if submitted by the managing entity, a writing of not more than seven hundred fifty (750) words in support of its position to remain as the managing entity;
(d) if it elects to do so, a writing of not more than seven-hundred fifty (750) words from the Recall Committee recommending retention or discharge of the managing entity.
(2) Within ten (10) days after the date specified for the return of the ballots, the Recall Committee shall examine the ballots that have been returned and determine the vote. The vote shall be determined to be in favor of discharge of the managing entity only if the following requirements are met:
(a) Ballots are cast representing at least fifty percent (50%) of the voting power of all the owners, and
(b) ballots representing at least thirty-three and one-third percent (33 1 / 3 %) of the voting power of all owners and sixty-six and two-thirds percent (66 2 / 3 %) of the voting power of all owners casting ballots favored discharge of the managing entity.
(3) If the vote is determined to be in favor of discharging the managing entity, the managing entity shall be discharged effective one-hundred twenty (120) days after the date specified for the return of the ballots.
(4) A managing entity discharged pursuant to this section is not entitled by reason of such discharge to any penalty or other charge payable, directly or indirectly, in whole or in part, by any owner, except to the extent that the developer is obligated under any agreement with the managing entity to pay any such charge or penalty.
(5) All costs and expenses incurred in connection with the recall process of the managing entity shall be on the account of the owners.
(6) Upon the discharge of the managing entity in accordance with the applicable provisions of this section, the developer shall be entitled to appoint the successor of the discharged managing entity, unless the developer and the discharged managing entity are the same person, in which case said appointment shall be made by the owners. The successor managing entity may not be an affiliate of the discharged managing entity.
For purposes of this section, the term “for cause” shall only be construed to mean the occurrence of any one, or a combination of the following:
(a) A gross violation, on the part of the managing entity, of any of its material obligations under this chapter.
(b) A gross violation, on the part of the managing entity, of its fiduciary duty set forth in subsection (1) of § 1256c of this title.
History —Dec. 26, 1995, No. 252, § 6-106; July 5, 1996, No. 66, § 26.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vi/1256f/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f)›§ 1256f - Recall of managing entity by developer
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256f - Recall of managing entity by developer
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The developer shall have the right, without the need to obtain the consent of the owners, to:
(1) Recall or terminate the managing entity upon the occurrence of any of the following events:
(a) The early termination of the agreement between the developer and the managing entity by any of said parties pursuant to any provisions thereof allowing for said early termination or pursuant to applicable law.
(b) The abandonment by the managing entity of its obligations with respect to the timeshare or vacation club property.
It shall be presumed that a managing entity has abandoned its obligations with respect to the timeshare or vacation club property upon the occurrence of any of the following events:
(i) A substantial number of the managing entity’s employees assigned to the timeshare or vacation club property have been absent from the timeshare or vacation club property for more than twenty four (24) consecutive hours.
(ii) The managing entity has removed or is in the process of removing, from any location within the timeshare or vacation club property that may have been formerly occupied by said person, a substantial part of its furniture, fixtures or equipment located therein, with no apparent intention to replace or substitute the same.
(2) Substitute the managing entity upon the occurrence of any of the following events:
(a) Any of the events set forth in subsection (1) above.
(b) The resignation by the managing entity.
(c) The expiration of the term of the agreement between the developer and the managing entity pursuant to the provisions thereof.
Notwithstanding any provisions to the contrary in the agreement between the developer and the managing entity, upon becoming aware of the occurrence of any of the events referred to in subsection (1) above, the developer shall have the right to terminate or discharge the managing entity from its obligations with respect to the timeshare or vacation club property by delivery to the managing entity of a notice to such effect, said termination or discharge to be effective on the date set forth in said notice.
History —Dec. 26, 1995, No. 252, added as § 6-107 on July 5, 1996, No. 66, § 27.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vii/1257/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VII - Prohibited Practices (§§ 1257 — 1257c)›§ 1257 - In general
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VII - Prohibited Practices (§§ 1257 — 1257c) › § 1257 - In general
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It shall be unlawful for any person offering timeshares, vacation club rights or accommodations within Puerto Rico intentionally to authorize, use, direct, or aid in the dissemination, publication, distribution, or circulation of any statement, advertisement, broadcast, or telecast concerning the timeshare plan or vacation club in which such timeshares, vacation club rights or accommodations are offered, which contains any statement, characterization, or depiction, either written or graphic which is false or misleading, including, without limitation, showing proposed improvements or nonexistent scenes without clearly indicating that the improvements are proposed and the scenes do not exist.
Nothing in this section shall be construed to hold the publisher of any newspaper, any job printer, any broadcaster or telecaster, any magazine publisher, or any employee thereof, liable for any publication, dissemination, distribution, or circulation herein prohibited unless such person had actual knowledge of the falsity thereof.
History —Dec. 26, 1995, No. 252, § 7-101.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vii/1257a/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VII - Prohibited Practices (§§ 1257 — 1257c)›§ 1257a - Submission of advertising materials for an advisory opinion
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VII - Prohibited Practices (§§ 1257 — 1257c) › § 1257a - Submission of advertising materials for an advisory opinion
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Advertising materials, excluding exchange program materials, proposed for use by any person in connection with the offer, promotion, or disposition of timeshares, vacation club rights or accommodations in Puerto Rico may, prior to their use, be submitted to the Company, accompanied by a request for a written advisory opinion concerning such materials’ compliance with this chapter. The Company may, but shall not be required to, issue such an advisory opinion unless it has adopted regulations obligating it to issue advisory opinions. Materials shall be submitted in the manner prescribed by regulations, if any, adopted by the Company. The Company may, by regulation, impose a fee for the issuance of an advisory opinion. An advisory opinion issued by the Company shall bind the Company but shall have no effect on any other person.
History —Dec. 26, 1995, No. 252, § 7-102; July 5, 1996, No. 66, § 13.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vii/1257b/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VII - Prohibited Practices (§§ 1257 — 1257c)›§ 1257b - Prohibited advertising
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VII - Prohibited Practices (§§ 1257 — 1257c) › § 1257b - Prohibited advertising
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No advertisement, promotion, or offer of a timeshare, vacation club or accommodation right shall:
(1) Contain any representation as to the availability of a resale or rental program offered by or on behalf of the developer or its affiliate unless such resale and/or rental program has been fully described in the developer’s application for a timeshare or vacation club permit submitted to the Company and in the public offering statement furnished to all prospective purchasers.
(2) Contain an offer or inducement to purchase a timeshare, vacation club right or accommodation which purports to be limited as to quantity or restricted as to time unless the quantity and/or time applicable to the offer or inducement is clearly and conspicuously disclosed.
(3) Contain a statement concerning the availability of timeshares, vacation club rights or accommodations at a particular minimum price if the number of such timeshares, vacation club rights or accommodations available at such price comprises less than ten percent (10%) of the remaining unsold inventory of the developer, unless the number of timeshares, vacation club rights or accommodations then for sale at the minimum price is set forth in the advertisement.
(4) Contain any statement that the timeshares, vacation club rights or accommodations being offered for disposition can be further divided.
(5) Contain any asterisk or other reference symbol as a means of contradicting or changing the ordinary meaning of any previously made statement in the advertisement, promotion, or offer.
(6) Misrepresent the size, nature, extent, term of availability, qualities, or characteristics of the accommodations, facilities, incidental benefits, or component sizes of a timeshare plan or vacation club.
(7) Misrepresent or imply that a facility or incidental benefit is available for the exclusive use of owners if a public right of access or of use thereof exists.
(8) Make any misleading or deceptive representation with respect to the contents or nature of the developer’s timeshare or vacation club permit or the purchaser’s or owner’s rights, privileges, benefits, or obligations under his purchase contract or this chapter.
(9) Misrepresent the conditions under which an owner may participate in an exchange program.
(10) Purport that a person’s name resulted through a referral unless the name of the person making the referral can be produced upon demand of the Company.
(11) Describe any proposed or incomplete accommodation, facility, incidental benefit, or component site unless the estimated date of completion, availability, or legal right of access thereto is set forth, and evidence has been presented to the Company that the completion and availability thereof, and/or the legal access thereto, are financially assured within the time frame represented as required by § 1254b of this title.
(12) Describe or portray any accommodation or facility of a timeshare plan or vacation club which is not required to be built unless such description or portrayal is conspicuously labeled or identified as “may not be built” or “proposed”.
(13) Contain a statement that the developer is affiliated with an exchange program if, in fact, no such affiliation exists, or
(14) use any exchange company’s materials, brochures, directories, video tapes, or other literature, advertisements, or promotions without the developer’s being affiliated with such exchange company.
History —Dec. 26, 1995, No. 252, § 7-103.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-vii/1257c/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VII - Prohibited Practices (§§ 1257 — 1257c)›§ 1257c - Disclosure of intent to make sales presentation
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VII - Prohibited Practices (§§ 1257 — 1257c) › § 1257c - Disclosure of intent to make sales presentation
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(1) It is unlawful for any person to use an advertisement or other promotional device, including but not limited to a sweepstakes, gift, or lodging certificate, with the intent to solicit the disposition of timeshares, vacation club rights or accommodations without disclosing in a clear and unequivocal manner a statement substantially similar to the following: “This advertisement is for the purpose of soliciting the purchase of timeshares (or vacation club rights, and/or accommodations, as applicable)..” A similar disclosure statement required by a state’s laws governing timesharing or vacation clubs shall be an acceptable alternative, in the reasonable discretion of the Company. It shall also be unlawful for any person to solicit the disposition of timeshares, vacation club rights or accommodations in Puerto Rico by means of telephone communication without first disclosing in a clear and unequivocal manner that the purpose of the telephone communication is to solicit the purchase of timeshares, vacation club rights or accommodations and requesting and receiving permission from the person receiving the communication to proceed.
(2) The following unfair acts or practices undertaken by, or omissions of, any person intentionally promoting the disposition of timeshares, vacation club rights or accommodations are prohibited:
(a) Failing clearly and conspicuously to disclose all rules, regulations, terms, and conditions of the developer’s promotional program; the exact nature and approximate retail value of gifts or similar items when offered or, if the item is not available on a retail basis, the cost to the developer of the item; the date or dates on or before which the offer will terminate or expire; and the odds of receiving any particular gift or similar item;
(b) failing to obtain the express written consent of individuals before their names are used for promotional purposes in connection with a timeshare plan or vacation club;
(c) failing to award items promised in a promotion by the date and year specified in the promotion;
(d) misrepresenting in any manner the odds or likelihood of a person’s receiving any item or gift, and
(e) misrepresenting or deceptively representing any material facts concerning:
(i) A timeshare plan’s or vacation club’s accommodations, facilities, incidental benefits, or reservation system, including when such components will be available to owners;
(ii) the nature or extent of any services incident to such accommodations or facilities;
(iii) the contents of any of the timeshare or vacation club documents;
(iv) a purchaser’s or owner’s rights, privileges, benefits, and obligations under the timeshare or vacation club documents, and
(v) the purchaser’s right to cancel his purchase contract pursuant to § 1253 of this title.
History —Dec. 26, 1995, No. 252, § 7-104.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-viii/1258/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VIII - Exchange Programs (§§ 1258 — 1258e)›§ 1258 - Disclosures
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258 - Disclosures
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If a prospective purchaser is offered the opportunity to become a member of an exchange program, the seller shall deliver to such prospective purchaser, together with the public offering statement and any other materials required to be furnished hereunder and prior to the offering or execution of any contract between the prospective purchaser and the exchange company offering membership in the exchange program, or, if the exchange company is dealing directly with the prospective purchaser, the seller or the exchange company (as appropriate) shall deliver to the prospective purchaser, prior to the initial offering or execution of any contract between the prospective purchaser and the exchange company, the following written information regarding such exchange program:
(1) The name and address of the exchange company.
(2) The names of all officers, directors, and shareholders owning five percent (5%) or more of the outstanding stock of the exchange company.
(3) Whether the exchange company or any of its officers or directors have any legal or beneficial participation in any developer, seller, or managing entity for any timeshare plan or vacation club participating in the exchange program and, if so, the name and location of the timeshare plan or vacation club and the nature of the participation.
(4) Unless otherwise stated, a statement that the purchaser’s contract with the exchange company is a contract separate and distinct from the purchaser’s contract with the seller of timeshares or vacation club rights.
(5) Whether the purchaser’s participation in the exchange program is dependent upon the continued affiliation of the applicable timeshare plan or vacation club with the exchange program.
(6) A statement that the purchaser’s participation in the exchange program is voluntary.
(7) A complete and accurate description of the terms and conditions of the purchaser’s contractual relationship with the exchange program and the procedure by which changes thereto may be made.
(8) A complete and accurate description of the procedures necessary to qualify for and effectuate exchanges.
(9) A complete and accurate description of all limitations, restrictions, and priorities employed in the operation of the exchange program, including but not limited to limitations on exchanges based on seasonality, accommodation size, or levels of occupancy, expressed in conspicuous type, and, in the event that such limitations, restrictions, or priorities are not uniformly applied by the exchange program, a clear description of the manner in which they are applied.
(10) Whether exchanges are arranged on a space-available basis and whether any guarantees of fulfillment of specific requests for exchanges are made by the exchange program.
(11) Whether and under what circumstances an owner, in dealing with the exchange program, may lose the right to use and occupy an accommodation of the timeshare plan or vacation club during a reserved use period in any properly applied for exchange without his being provided with substitute accommodations by the exchange program.
(12) The fees or range of fees for participation by owners in the exchange program, a statement of whether any such fees may be altered by the exchange company, and the circumstances under which alterations may be made.
(13) The name and address of the site of each accommodation or facility included within a timeshare plan or vacation club participating in the exchange program.
(14) The number of accommodations in each timeshare plan which are available for occupancy and which qualify for participation in the exchange program, expressed within the following numerical groups: 1—5; 6—10; 11—20; 21—50; and 51 and over.
(15) The number of currently enrolled owners for each timeshare plan and vacation club participating in the exchange program, expressed within the following numerical groups: 1—100; 101—249; 250—499; 500—999; and 1,000 and over; and a statement of the criteria used to determine those owners who are currently enrolled with the exchange program.
(16) The disposition made by the exchange company of timeshare periods deposited with the exchange program by owners enrolled in the exchange program and not used by the exchange company in effecting exchanges.
(17) The following information as of the end of the immediately preceding calendar or fiscal year, as applicable, which shall be independently audited by a certified public accountant in accordance with the standards of the Accounting Standards Board of the American Institute of Certified Public Accountants and reported annually no later than one hundred eighty-three (183) days after the conclusion of the calendar or fiscal year:
(a) The number of owners currently enrolled in the exchange program.
(b) The number of accommodations and facilities that have current affiliation agreements with the exchange program.
(c) The percentage of confirmed exchanges, which is the number of exchanges confirmed by the exchange program divided by the number of exchanges properly applied for, together with a complete and accurate statement of the criteria used to determine whether an exchange request was properly applied for.
(d) The number of timeshare periods for which the exchange program has an outstanding obligation to provide an exchange to an owner who relinquished a timeshare period during the year in exchange for a timeshare period in any future year.
(e) The number of exchanges confirmed by the exchange program during the year.
(18) A statement in conspicuous type to the effect that the percentage described in subsection (17)(c) is a summary of the exchange requests entered with the exchange program in the period reported and that the percentage does not indicate the probabilities of an owner’s being confirmed to any specific choice or range of choices.
History —Dec. 26, 1995, No. 252, § 8-101.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-viii/1258a/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VIII - Exchange Programs (§§ 1258 — 1258e)›§ 1258a - Company filing
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258a - Company filing
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Each exchange company offering an exchange program to owners in Puerto Rico shall file the information specified in § 1258 of this title with the Company by August 1 of each year. However, an exchange company will make its initial filing at least twenty (20) days prior to offering membership in an exchange program to any prospective purchaser, purchaser or owner in Puerto Rico.
History —Dec. 26, 1995, No. 252, § 8-102.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-viii/1258b/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VIII - Exchange Programs (§§ 1258 — 1258e)›§ 1258b - Nonliability
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258b - Nonliability
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No developer shall have any liability with respect to any violation of this chapter arising out of the publication by the developer of information provided to it by an exchange company pursuant to §§ 1258—1258e of this title. No exchange company shall have any liability with respect to any violation of this chapter arising out of the use by a developer of information relating to an exchange program other than that provided to the developer by the exchange company.
History —Dec. 26, 1995, No. 252, § 8-103.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-viii/1258c/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VIII - Exchange Programs (§§ 1258 — 1258e)›§ 1258c - Communications
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258c - Communications
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All written, visual and electronic communications relating to an exchange company, or an exchange program shall be filed with the Company within ten (10) days following their use.
History —Dec. 26, 1995, No. 252, § 8-104.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-viii/1258d/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VIII - Exchange Programs (§§ 1258 — 1258e)›§ 1258d - Violation
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258d - Violation
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The failure of an exchange company to observe the requirements of §§ 1258—1258e of this title and the use of any unfair or deceptive act or practice in connection with the operation of an exchange program, is a violation of this chapter.
History —Dec. 26, 1995, No. 252, § 8-105.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-viii/1258e/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter VIII - Exchange Programs (§§ 1258 — 1258e)›§ 1258e - Denial of privileges
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258e - Denial of privileges
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An exchange company may elect to deny exchange privileges to any member whose use of the accommodations and facilities of the owner’s timeshare plan or vacation club is denied, and no exchange program or exchange company shall be liable to any of its members or any third parties on account of any such denial of exchange privileges.
History —Dec. 26, 1995, No. 252, § 8-106.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-ix/1259/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter IX - Referral Programs (§ 1259)›§ 1259 - Referral programs
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter IX - Referral Programs (§ 1259) › § 1259 - Referral programs
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Any referral program initiated by a developer, pursuant to which an owner, for valuable consideration, is requested to provide the developer or its agent with a list of names of persons who might be interested in purchasing or otherwise acquiring a timeshare or vacation club right, shall not be deemed to involve an act of brokerage which obligates such owner to have a real estate broker or salesperson’s license within Puerto Rico, provided that such program is not implemented by a developer in order to circumvent any provision of this chapter, §§ 3026 et seq. of Title 20, known as the “Act to Regulate the Real Estate Business and the Profession of Real Estate Broker, Salesperson or Companies in Puerto Rico”, or any rules or regulations promulgated thereunder.
History —Dec. 26, 1995, No. 252, § 9-101.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-x/1260/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter X - Remedies (§§ 1260 — 1260g)›§ 1260 - Unconscionability
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260 - Unconscionability
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A court of competent jurisdiction, upon finding, as a matter of law, that a contract or contract clause was unconscionable at the time the contract was made, may refuse to enforce the contract, enforce the remainder of the contract without the unconscionable clause, or limit the application of any unconscionable clause in order to avoid an unconscionable result.
History —Dec. 26, 1995, No. 252, § 10-101.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-x/1260a/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter X - Remedies (§§ 1260 — 1260g)›§ 1260a - Obligation of good faith
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260a - Obligation of good faith
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Every contract or duty governed by this chapter imposes an obligation of good faith which shall mean honesty in fact and the observance of reasonable standards of fair dealing in its performance or enforcement.
History —Dec. 26, 1995, No. 252, § 10-102.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-x/1260b/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter X - Remedies (§§ 1260 — 1260g)›§ 1260b - Remedies to be liberally administered
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260b - Remedies to be liberally administered
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(1) The remedies provided by this chapter shall be liberally administered to the end that the aggrieved party is put in as good a position as if the other party had fully performed. However, consequential, special, or punitive damages shall not be awarded, except as specifically provided in this chapter or by other statute enacted in Puerto Rico.
(2) Any right or obligation established or imposed by this chapter shall be enforceable by judicial proceeding.
History —Dec. 26, 1995, No. 252, § 10-103.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-x/1260c/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter X - Remedies (§§ 1260 — 1260g)›§ 1260c - Conflicts
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260c - Conflicts
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Subject to §§ 1252g and 1269 of this title, in the event of any conflict between the provisions of this chapter and any provision of another statute or regulation enacted in Puerto Rico pertaining to timeshares, vacation club rights, accommodations, condominiums, securities, the advertisement, promotion, or offering or recordation thereof, or consumer protection in general, the provisions of this chapter shall control in connection with all matters within the purview of this chapter.
History —Dec. 26, 1995, No. 252, § 10-104.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-x/1260d/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter X - Remedies (§§ 1260 — 1260g)›§ 1260d - Effect of violations on rights of action; attorneys’ fees
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260d - Effect of violations on rights of action; attorneys’ fees
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If a developer or any other person subject to this chapter fails to comply with any provision of this chapter, any person adversely affected thereby shall be entitled to initiate a claim in a court of competent jurisdiction seeking appropriate relief. The court may also award reasonable attorneys’ fees to the prevailing party.
History —Dec. 26, 1995, No. 252, § 10-105.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-x/1260e/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter X - Remedies (§§ 1260 — 1260g)›§ 1260e - Disposition voidable
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260e - Disposition voidable
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In addition to any other remedies provided for in this chapter, any deed or instrument of conveyance or disposition and any purchase contract shall be voidable, at the sole option of the grantee or purchaser, his heirs, personal representative, or trustee in insolvency or bankruptcy, within two (2) years following the last to occur of:
(1) The date of execution of the applicable purchase contract;
(2) the date of execution of the instrument of conveyance or disposition, or
(3) the date upon which the disposition occurred if such disposition were not effected by deed or other instrument of conveyance, if on any such date, no currently effective timeshare or vacation club permit was issued to the developer.
The provisions of this section shall not be applicable to transactions permissible for developers of existing timeshare property which file their application for permit within the first year of the effectiveness of this law in compliance with the provisions of § 1252g. The provisions of this section shall also not apply to deeds or instruments or to the purchase contracts, executed by developers of existing timeshare property prior to applying for their permit, provided they do so on or before July 1, 1996.
History —Dec. 26, 1995, No. 252, § 10-106; July 5, 1996, No. 66, § 29.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-x/1260f/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter X - Remedies (§§ 1260 — 1260g)›§ 1260f - Limitation of actions
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260f - Limitation of actions
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An action or proceeding to enforce any provision of this chapter must be commenced within three (3) years following the date upon which the claim upon which such action or proceeding is based accrues.
History —Dec. 26, 1995, No. 252, § 10-107.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-x/1260g/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter X - Remedies (§§ 1260 — 1260g)›§ 1260g - Applicable law
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260g - Applicable law
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Any provision in a deed, instrument of assignment or other disposition or purchase contract with respect to a timeshare, vacation club right or accommodation, which establishes that the same shall be governed by or interpreted in accordance with the law of a particular jurisdiction or that any controversy arising thereunder shall be heard in the courts of a particular jurisdiction which does not have a substantial relation to the domicile of the parties thereto or to the place where the property which is the object thereof, or properties in the case of a vacation club, are located, shall be null and void.
History —Dec. 26, 1995, No. 252, added as § 10-108 on July 5, 1996, No. 66, § 30.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xi/1261/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XI - Powers of Company (§§ 1261 — 1261h)›§ 1261 - Regulations and forms
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261 - Regulations and forms
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(1) Except as otherwise provided in § 1261h of this title, the Company shall be the sole and exclusive governmental agency responsible for the implementation and enforcement of the provisions of this chapter. In furtherance thereof, the Company may from time to time promulgate, amend, and rescind any regulations, forms, and orders which it deems necessary or appropriate to carry out the provisions of this chapter, including regulations and forms governing applications and reports and defining any term, whether or not used in this chapter; Provided, That any such definitions are not inconsistent with the provisions of this chapter.
(2) The Company may intervene in any action or suit involving the rights or responsibilities of a developer in connection with any timeshare plan or vacation club with respect to which an application for a timeshare or vacation club permit is pending.
History —Dec. 26, 1995, No. 252, § 11-101.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xi/1261a/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XI - Powers of Company (§§ 1261 — 1261h)›§ 1261a - Investigative powers
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261a - Investigative powers
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(1) The Company may initiate such public or private investigations as it deems necessary, either within or outside Puerto Rico, in order to determine whether any person has violated or is about to violate any provision of this chapter or any regulation promulgated hereunder, or to aid in the enforcement thereof. In addition, the Company may conduct hearings within Puerto Rico to determine whether any representation contained in any document filed with or information provided to the Company is false or misleading or whether any person has engaged, is engaging, or is about to engage in any unlawful act or practice.
(2) For the purpose of any investigation or proceeding under this chapter, the director of the Company or any officer designated by the director may administer oaths and affirmations, subpoena witnesses, compel their attendance, gather evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the Company deems relevant or material to its inquiry. If any person involved in proceedings before the Company disobeys or resists any lawful order or refuses to respond to a subpoena or to take an oath or affirmation as a witness, or thereafter refuses to be examined or is guilty of misconduct during the hearing or so near the place thereof as to obstruct the proceeding, the Company shall certify the relevant facts to an appropriate court of competent jurisdiction. Such court may thereupon issue an order directing the person to appear before the court and show cause why he or she should not be punished for contempt. The order and a copy of the certified statement shall be served on the person. Thereafter, the court shall have jurisdiction over the matter. The same proceeding shall be had, the same penalties may be imposed, and the person charged may purge himself or herself of the contempt in the same way, as in the case of a person who has committed contempt in the trial of a civil action before a court in Puerto Rico.
(3) The Company may require or permit any person to file a statement in writing, under oath or otherwise, as to all facts and circumstances concerning a matter being or to be investigated.
History —Dec. 26, 1995, No. 252, § 11-102.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xi/1261b/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XI - Powers of Company (§§ 1261 — 1261h)›§ 1261b - Cease and desist orders
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261b - Cease and desist orders
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(1) The Company may issue an order requiring any person to cease and desist from any act or practice in violation of this chapter or any regulations promulgated by the Company hereunder and take such affirmative action as, in the judgment of the Company, will fulfill the purposes and intent of this chapter. Whenever the Company determines from evidence available to it that a person has engaged or is about to engage in any act or practice constituting a violation of this chapter or any regulation promulgated or order issued by the Company hereunder, the Company, with or without prior administrative proceedings, may bring an action in an appropriate court of competent jurisdiction to enjoin such act or practice and to enforce compliance with this chapter or any regulation promulgated or order issued hereunder.
(2) If, in the opinion of the director of the Company, the offer or disposition of any timeshare or vacation club right Puerto Rico requires a timeshare or vacation club permit under this chapter and such timeshare or vacation club right is being, or has been offered or disposed of, without the developer’s holding a valid timeshare or vacation club permit, the Company may order the developer and its agents to cease and desist from the further offer or disposition of timeshare or vacation club rights in Puerto Rico unless or until a timeshare or vacation club permit has been duly issued by the Company under this chapter. Any person to whom such order is directed may, within thirty (30) days after its service, file with the Company a written request for a hearing to contest the order. If such a request is filed, a hearing shall be held in accordance with the laws of Puerto Rico applicable to administrative adjudications, and the Company shall have all the powers granted thereunder.
(3) Whenever the Company determines from evidence available to it that a developer is directly, or through its agents or representatives, violating or failing to comply with any of the provisions of this chapter or any regulations of the Company promulgated hereunder, or that any representations or assurances given by the developer upon which the Company relied in issuing a timeshare or vacation club permit were materially false or misleading or that conditions or circumstances existing with respect to the developer’s timeshare plan or vacation club would have resulted in the denial of a timeshare or vacation club permit had they been known to the Company, then the Company may order the developer to desist and refrain from such violations and/or it may order the cessation of offers and dispositions of timeshares or vacation club rights in Puerto Rico. Upon receipt of such an order, the person or persons to whom the order is directed shall immediately discontinue their activities in accordance with the terms of the order. Any person to whom such an order is directed may, within thirty (30) days after service of the order upon the person file with the Company a written request for a hearing to contest the order. If such a request is filed, a hearing shall be held in accordance with the laws of Puerto Rico applicable to administrative adjudications, and the Company shall have all of the powers granted thereunder.
(4) Whenever the Company determines from evidence available to it that a person is violating or failing to comply with any of the provisions of this chapter or the regulations of the Company promulgated hereunder, that any representations or assurances given by the person upon which the Company has relied were untrue or have not been carried out, or that conditions or circumstances existing would have caused the denial of any entitlement granted by the Company, then the Company may order the person to cease and desist from such violations. Upon receipt of such an order, the person or persons to whom the order is directed shall immediately discontinue their activities in accordance with the terms of the order. Any person to whom such an order is directed may, within thirty (30) days after service of the order upon the person, file with the Company a written request for a hearing to contest the order. If such a request is filed, a hearing shall be held in accordance with the laws of Puerto Rico applicable to administrative adjudications, and the Company shall have all of the powers granted thereunder.
(5) When the Company has authority to issue a cease and desist order pursuant to the provisions of §§ 1261—1261h of this title, it may accept, in lieu thereof or as part thereof, an assurance of discontinuance of any violative practice. Such an assurance may include a stipulation for the voluntary payment by the alleged violator of the costs of the Company’s investigation, including the cost of initiating and prosecuting any action or proceeding by the Company and any amount necessary to restore to any person money or property acquired by means of the violation. Any assurance of discontinuance accepted by the Company and any stipulation filed with a court in connection with any action or proceeding shall be confidential to the parties to the action or proceeding and to the court and its employees, but if an accepted assurance of discontinuance is violated, or if a person engages in the same violative practice which he previously agreed to discontinue, then the assurance of discontinuance or stipulation shall become a public record and open to inspection by any person.
History —Dec. 26, 1995, No. 252, § 11-103.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xi/1261c/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XI - Powers of Company (§§ 1261 — 1261h)›§ 1261c - Revocation or suspension of timeshare or vacation club permit
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261c - Revocation or suspension of timeshare or vacation club permit
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The Company may, following the issuance of a cease and desist order pursuant to § 1261b of this title, and if no hearing has been requested to contest the order within the time frame permitted, or if the developer has unsuccessfully exhausted all administrative remedies available to contest the order, by order, revoke or suspend a timeshare or vacation club permit. After exhausting all administrative remedies available, the developer may petition for judicial review consistent with the regulations to be issued hereunder in conformity with the provisions of §§ 2101 et seq. of Title 3, known as the “Puerto Rico Uniform Administrative Procedures Act”.
History —Dec. 26, 1995, No. 252, § 11-104.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xi/1261d/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XI - Powers of Company (§§ 1261 — 1261h)›§ 1261d - Judicial review
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261d - Judicial review
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Every final order, decision, or other official act of the Company is subject to judicial review in accordance with the laws of Puerto Rico.
History —Dec. 26, 1995, No. 252, § 11-105.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xi/1261e/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XI - Powers of Company (§§ 1261 — 1261h)›§ 1261e - Penalties
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261e - Penalties
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(1) Except as otherwise expressly provided herein, any person who willfully violates any of the provisions of this chapter or any regulation promulgated or order issued hereunder shall be guilty of a violation punishable as a misdemeanor. Each such violation shall be deemed a separate offense. For purposes of this section, a willful violation shall be deemed to have occurred when the person committing or responsible for the violation knew or reasonably should have known that his conduct was violative of any provision of this chapter or any applicable regulation or order.
(2) If, upon investigation by the Company, a person is determined to have violated this chapter or any regulation promulgated or order issued hereunder, the Company shall inform such person of the violation by certified mail, return receipt requested, and may assess a monetary fine which shall not exceed ten thousand dollars ($10,000) for each violation. The Company, in the name of Puerto Rico, may initiate legal proceedings in an appropriate court of competent jurisdiction in order to enforce payment of any such monetary fine that is not paid within ten (10) calendar days following the Company’s giving of such notice.
History —Dec. 26, 1995, No. 252, § 11-106.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xi/1261f/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XI - Powers of Company (§§ 1261 — 1261h)›§ 1261f - Punishment of violations under other statutes
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261f - Punishment of violations under other statutes
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Nothing in this chapter limits the power of Puerto Rico to punish any person for any conduct which constitutes a violation under any other statute. Nothing contained in §§ 1261—1261h of this title limits the other powers of the Company expressly granted in other articles of this chapter.
History —Dec. 26, 1995, No. 252, § 11-107.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xi/1261g/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XI - Powers of Company (§§ 1261 — 1261h)›§ 1261g - Waiver of requirement—Agency powers
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261g - Waiver of requirement—Agency powers
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(1) The Company may waive specific requirements or may allow alternative arrangements to the requirements of this chapter, or any regulation promulgated pursuant to it if:
(a) Compliance with specific provisions are impractical or impossible;
(b) any person will suffer severe hardship if strict compliance is required, and
(c) adequate protection for owners of timeshares, vacation club rights and accommodations will be maintained.
(2) Any alternative arrangements must be in keeping with the policies of this chapter, including the orderly development of timeshare projects and vacation clubs and purchaser protection, and shall take into account the following factors:
(a) The number of owners and/or living accommodations comprising the timeshare or vacation club property;
(b) the laws of the jurisdiction in which the timeshare or vacation club property is located;
(c) the number of owners who are residents of Puerto Rico in relation to the total number of owners;
(d) the number of timeshares or vacation club rights sold before the effective date of this act;
(e) the net worth, liquidity and other financial ability of the developer, and
(f) Any other factor the Company finds relevant to permitting an alternative arrangement.
History —Dec. 26, 1995, No. 252, § 11-108.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xi/1261h/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XI - Powers of Company (§§ 1261 — 1261h)›§ 1261h - Consumer complaints
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261h - Consumer complaints
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Any purchaser or owner of a timeshare, vacation club right or accommodation who understands that his rights under this law have been violated may file the corresponding complaint in the Department of Consumer Affairs, which will proceed to consider the same in accordance with the powers and authority granted to it by law. In every proceeding commenced by a purchaser or owner of a timeshare, vacation club right or accommodation in the Department of Consumer Affairs, the Company may be deemed [an] indispensable party.
History —Dec. 26, 1995, No. 252, § 11—109.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262 - Applicability
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262 - Applicability
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The provisions of §§ 1262—1268e of this title are applicable only to the whole of accommodations and facilities whose developer is subject to the provisions of this chapter in which case, said developer shall dedicate the subject property to the timeshare or vacation club regime established herein, setting it forth in a public deed which shall be recorded in the Registry of Property.
Once dedicated, the timeshare or vacation club regime may only be modified or terminated with the express conformity of the Company which shall make sure that the provisions of this chapter with respect to such modification or termination have been satisfied and that the rights of the owners are not violated by such modification or termination; Provided, however, That the Company may by regulation establish a list of amendments which do not fundamentally affect the nature of the timeshares, vacation club rights and accommodations sold, the participation respectively assigned thereto or the definition of common expenses, and which do not entail deletion of facilities or other amenities or addition of facilities or other amenities other than at developers sole cost and expense, which modifications shall be exempt from the requirement of the express conformity of the Company referred to above.
The timeshare or vacation club regime may be established on real property situated on land held by recorded lease, surface right or usufruct provided that, through a public deed to that effect, the lessor or owner in fee simple gives his express consent and waives any action or claim he may institute against the owners in case of nonperformance of the lessee’s, surface right holder’s or original usufructuary’s obligations.
The deed dedicating the property to the timeshare or vacation club regime shall, except as otherwise provided for in § 1264(2)(d) of this title, clearly and precisely state the use to which all the area included in the real property and dedicated to the regime shall be devoted and once it is established, said use may only be changed by the developer prior to the sale of any timeshares, vacation club rights or accommodations or by the consent of the developer and the affirmative vote of sixty-six and two-thirds percent (66 2 / 3 %) of the voting power of all owners.
The provisions of § 1262a with respect to inscription in the Registry of Property; those of §§ 1262b through 1262f, both inclusive; §§ 1262h; 1262i; 1264a; 1264b; and §§ 1265—1266f, both inclusive, shall not be applicable to timeshares, vacation club rights or accommodations of a contractual nature.
History —Dec. 26, 1995, No. 252, § 12-101; July 5, 1996, No. 66, § 31; Jan. 5, 1999, No. 3, § 32.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262a/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262a - Effect of dedication
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262a - Effect of dedication
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Once the property is dedicated to the timeshare or vacation club regime, the timeshares or vacation club rights and, subject to the limitations set forth in this chapter, the accommodations, may be individually conveyed and encumbered and be the object of ownership or possession, and of all types of juridic acts inter vivos or mortis causa , entirely independent of:
(1) The rest of the property of which they are a part (in the case of the accommodations), and
(2) of the accommodations (in the case of the timeshares and vacation club rights), and the corresponding titles may be recorded in the Registry of Property according to the provisions of this chapter and of §§ 2001 et seq. of Title 30, known as the “Mortgage and Property Registry Act”.
History —Dec. 26, 1995, No. 252, § 12-102; Jan. 5, 1999, No. 3, § 33.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262a-1/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262a-1 - Effect of recording subordination agreement
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262a-1 - Effect of recording subordination agreement
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Once recorded in the Registry of Property, a subordination agreement shall be effective against the subordinating lienholder’s successors and assigns and any other person who acquires the accommodation, facility, timeshare or vacation club right subject to the lienholder’s rights through foreclosure, by deed in lieu of foreclosure or by any other legal means, irrespective of whether the rights of the owner with respect to the accommodation, facility, timeshare or vacation club right is of the type coupled with a special property right or not.
History —Dec. 26, 1995, No. 252, added as § 12-102A on July 5, 1996, No. 66, § 32.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262b/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262b - Effect of conveyance or encumbrance and subrogation of rights; accommodations planned and...
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262b - Effect of conveyance or encumbrance and subrogation of rights; accommodations planned and not begun
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In the event of a conveyance or encumbrance of: (i) an accommodation that has been planned, but is not yet under construction; or (ii) a timeshare or vacation club right with respect to such accommodation, there shall be deemed to be acquired by the new owner or by the encumbrancer, as applicable, the share corresponding to the conveyor or to the debtor in the proper case, in the facilities, and the corresponding right to have the accommodation constructed; and the acquirer shall be understood to be subrogated in the rights and to the extent of the conveyer for all legal purposes.
History —Dec. 26, 1995, No. 252, § 12-103.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262c/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262c - Accommodation under construction
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262c - Accommodation under construction
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In the case of a conveyance or encumbrance of: (i) an accommodation already under construction, or (ii) a timeshare or vacation club right with respect to such accommodation, the shares to which § 1262b of this title refers shall be deemed acquired or encumbered, and the part already constructed of the accommodation in question shall be deemed individually acquired or encumbered, as applicable, the acquirer also being subrogated in the rights and to the extent of the conveyer for all legal purposes.
History —Dec. 26, 1995, No. 252, § 12-104.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262d/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262d - Mortgage credits constituted before or after dedication to timeshare or vacation club regi...
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262d - Mortgage credits constituted before or after dedication to timeshare or vacation club regime; consent of owners
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The mortgagee of the mortgage credits constituted before the property is dedicated to the timeshare or vacation club regime, at the time of bringing action for collection, shall direct the action simultaneously, for the total sum secured, against all the owners of the accommodations that are encumbered. If said credits are constituted after the property has been submitted to the timeshare or vacation club regime, the same shall be distributed as prescribed in § 2566 of Title 30, among the encumbered accommodations already constructed; and in the case of accommodations merely planned or already under construction, the credits shall be distributed among the shares or rights recorded, in accordance with §§ 1262b and 1262c of this title.
The facilities of a property dedicated to the timeshare or vacation club regime may only be mortgaged by the consent of the developer and the affirmative vote of sixty-six and two-thirds percent (66 2 / 3 %) of the voting power of all owners. In the case of timeshare plans or vacation clubs structured exclusively on the basis of contractual right to use, the affirmative vote of the owner shall not be required if the mortgage to be established is to be subordinated to the rights of these owners in accordance with the provisions of §§ 1254–1254b of this title.
History —Dec. 26, 1995, No. 252, § 12-105; July 5, 1996, No. 66, § 33.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262e/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262e - Right of owner to his accommodation and share in facilities
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262e - Right of owner to his accommodation and share in facilities
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An owner of an accommodation shall have an exclusive right (subject to use restrictions) to his accommodation and to the share, with the other owners of accommodations (inclusive of timeshare or vacation club rights created in accommodations), in the facilities of the timeshare or vacation club property allotted to his accommodation in the deed of dedication to the timeshare or vacation club regime, as the same may be subsequently amended, modified or supplemented; Provided, however, [That] the total of all shares allocated among all accommodations in the timeshare or vacation club regime in accordance with the provisions of this section shall add up to one hundred percent (100%).
History —Dec. 26, 1995, No. 252, § 12-106.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262f/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262f - Rights of owner and his share in facilities
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262f - Rights of owner and his share in facilities
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The owner of a timeshare or vacation club right shall have an exclusive right (subject to use restrictions) to his timeshare or vacation club right and to the share with the other owners of accommodations, timeshares or vacation club rights in the facilities of the timeshare or vacation club property allotted to his timeshare or vacation club right in the deed of dedication to the timeshare or vacation club regime, as the same may be subsequently amended, modified or supplemented; Provided, however, [That] the total aggregate sum of all of the shares corresponding to all the timeshares or vacation club rights in a particular accommodation, shall always be equal to the particular accommodation’s share computed in accordance with § 1262e of this title.
History —Dec. 26, 1995, No. 252, § 12-107.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262g/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262g - Facilities
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262g - Facilities
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The facilities of the timeshare or vacation club property shall be described in the deed dedicating the property to the timeshare or vacation club regime, as the same may be amended or supplemented from time to time in conformity with the provisions of this chapter.
History —Dec. 26, 1995, No. 252, § 12-108.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1262h/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1262h - Division and grouping of accommodations, timeshares and vacation club rights
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262h - Division and grouping of accommodations, timeshares and vacation club rights
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The accommodations shall not be the object of material division, by segregation, to form other accommodations, nor be increased by the grouping of other adjacent accommodations or portions thereof during the term of the timeshare plan or vacation club, except as set forth below for commercial units. Timeshares and vacation club rights shall not be an object of division, by segregation, to form other timeshares or vacation club rights, nor be grouped or consolidated with other timeshares or vacation club rights.
Notwithstanding the terms of the previous paragraph, commercial units may be subject of material division by segregation, to form other commercial units, or increased through the grouping of other adjoining commercial units, provided that the developer had reserved the right to subdivide or group the commercial units of the regime in the deed of dedication referred to in § 1264 of this title. In such cases the new description of the commercial units affected and the new corresponding percentage shares corresponding to such units in the facilities and the common expenses shall be set forth in a public deed of segregation or grouping, as the case may be, which shall not be effective until recorded in the Registry of Property under the corresponding filial property numbers. A certified copy of said deed shall remain in the Registry of Property attached to the deed of dedication referred to in § 1264 of this title. A plan, certified by engineer or architect, duly licensed in Puerto Rico to practice his profession, graphically showing the details of the commercial units modified shall be appended to said certified copy. Furthermore, in case of a subdivision of a commercial unit, said plan shall also be approved by the Regulations and Permits Administration.
History —Dec. 26, 1995, No. 252, § 12-109; Jan. 5, 1999, No. 3, § 34.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1263/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1263 - Indivisibility of facilities
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1263 - Indivisibility of facilities
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The facilities shall remain undivided and shall not be the object of an action for division of the co-ownership during the term of the timeshare plan or vacation club. Any covenant to the contrary shall be null.
History —Dec. 26, 1995, No. 252, § 12-110.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1263a/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1263a - Rules governing use of facilities and accommodations
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1263a - Rules governing use of facilities and accommodations
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Each owner may use the facilities held in common in accordance with the purpose for which they are intended, without hindering or encroaching on, the lawful rights of the other owners. The use and enjoyment of each accommodation shall be subject to the following rules:
(a) Each accommodation shall be devoted solely to the use assigned to it in the deed to which § 1262 of this title refers.
(b) No occupant of an accommodation shall make any noise or cause any annoyance or [perform] any act that may disturb the peace of the other accommodation occupants.
(c) The accommodations shall not be used for purposes contrary to law, morals, normal behavior, or the public order.
(d) Every owner shall contribute in accordance with the share allotted to his accommodation, timeshare or vacation club right, respectively, in the deed of dedication to the regime, to the payment of the assessments, as well as in any other obligations which may be set forth in said deed of dedication.
(e) Every owner shall exercise due diligence in the use of the property and in his relations with the other owners, and shall be liable to them for violations committed by his relatives, visitors or employees, and, in general, by any person who occupies the accommodation in question, under any title, without prejudice to any direct action that may lie against said persons.
(f) Every owner or tenant shall strictly comply with the provisions set forth in the deed of dedication to the regime, the bylaws to which § 1267 of this title refers, and the timeshare and vacation club documents, as the same may be subsequently amended, modified or supplemented.
History —Dec. 26, 1995, No. 252, § 12-111.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1263b/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1263b - Agreements regarding maintenance and use of facilities
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1263b - Agreements regarding maintenance and use of facilities
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The necessary works for the maintenance of the property and for the adequate use of the facilities held in common shall be carried out as set forth in the deed of dedication of the property to the timeshare or vacation club regime, as the same may be subsequently amended, modified or supplemented.
History —Dec. 26, 1995, No. 252, § 12-112.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1264/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1264 - Contents of deed of dedication
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1264 - Contents of deed of dedication
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(1) The public deed dedicating the property to the timeshare or vacation club regime shall state the name of the regime and the following particulars:
(a) Description of the land and general description of the structures located thereon, with their respective areas and construction materials.
(b) Description and number of each accommodation, stating its measures, location, rooms, main entrance door and immediate place with which it communicates, and any other data necessary for its identification.
(c) Description of the facilities of the property.
(d) Clear indication of the purpose to which the property and each one of the accommodations is or will be devoted.
(e) Area of all the accommodations in the property and area of each accommodation.
(f) Description of each timeshare or vacation club right stating the accommodation, if any, to which the same is related (or allocated) and the applicable use periods thereof, duly identified by accommodation number followed by the applicable period.
(g) The corresponding share that each accommodation and each timeshare or vacation club right shall have in the facilities and the common expenses, established as set forth in this chapter.
(h) Everything important relating to the administration of the property and the regime including, without limitation, a description of the entity that will be managing the regime as well as the duties, responsibilities and obligations of the same.
(i) Any further data related to the property or the regime which may be of interest, as well as a description of any rights that the developer may reserve to itself, specifically stating the nature of such rights, the method of exercising the same and how the exercise of such rights will affect the rights and obligations of the owners.
(j) Provisions related to the organization of the owners’ association, if any.
(k) The allocation of voting rights attributable to each accommodation and each timeshare or vacation club right.
(l) The method by which assessments shall be assessed to and collected from the owners, and if any distinction with respect to the amount of such assessments and the method of collection thereof is to be established among the owners, a description of the basis for such distinction, and of the method of implementation of the same.
(m) The term of the timeshare or vacation club regime.
(n) The events, including but not limited to, condemnation and damage or destruction upon and the procedures by which the timeshare or vacation club regime may or shall be terminated prior to the expiration of its full term and the consequences of such termination including, but not limited to, the manner in which the timeshare or vacation club property or the proceeds from the disposition thereof shall be applied, held or distributed among the owners, and the designation of any specific entity to represent the owners in the settlement and adjustment of such claims.
(o) The procedures to be followed with respect to the amendments, modifications or supplements to the deed dedicating the property to the timeshare or vacation club regime.
(p) The terms of any right of first refusal that the developer may wish to establish with respect to the sale of any timeshares or vacation club rights and of the right of redemption against the acquirer of any of such timeshares or vacation club rights, upon the failure by the seller thereof to comply with the terms of the aforesaid right of first refusal which rights the developer may reserve unto itself.
(2) If the regime is an expandable or contractible regime, or if it is to contain a reservation of the use dedication, the deed of dedication shall also contain the following:
(a) The explicit reservation, on the part of the developer, of the option(s) to expand and/or contract the regime.
(b) A statement of any limitations on such option(s), including, without limitation, a statement as to:
(i) Whether there is any time limit within which such option must be exercised, and
(ii) the consent required of the owners, if any, or an express declaration that their additional consent is not required.
(c) A description of the basis on which property may be added to or subtracted from the regime, including without limitation:
(i) The respective minimum or maximum ratio at which facilities would be added or subtracted from the regime;
(ii) the basis on which the shares of the accommodations, timeshares and vacation club rights would be adjusted, and
(iii) the required consent of the owners, which in no case shall be less than sixty-six and two-thirds percent (66 2 / 3 %) of the voting power of all owners.
(d) If the regime includes a reservation of the use dedication:
(i) The basis for the exercise of the option to subsequently establish the ultimate use of such accommodations,
(ii) any limitations on the exercise of such option, including, without limitation, a statement as to whether or not there is any time limit within which such option must be exercised, and
(iii) the consent of the owners required, if any, or an express declaration that their additional consent is not required, all of which information shall also be included in the public offering statement referred to in §§ 1255—1255d of this title.
If the developer decides to reserve the use dedication as provided in the preceding paragraph, the developer shall determine, at the time of the execution of the deed of dedication, the use (residential or commercial) of the accommodations comprising at least sixty-six and two-thirds (66 2 / 3 %) of the total area of all the accommodations located in the property subject to the deed of dedication and no more than thirty-three and one-thirds (33 1 / 3 %) of the total area of such accommodations can be subject to the reservation of the use dedication.
(3) If the regime may be merged in the future with another regime, an express reservation of such right shall also be included in the deed of dedication and the provisions of subsection (2) of this section with respect to required consent and and § 1268d of this title shall be complied with.
History —Dec. 26, 1995, No. 252, § 12-113; July 5, 1996, No. 66, § 34; Jan. 5, 1999, No. 3, § 35.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1264a/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1264a - Contents of deed of dedication—Transfer of individual accommodations
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1264a - Contents of deed of dedication—Transfer of individual accommodations
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The deed of transfer of each individual accommodation shall state the particulars prescribed in § 1264(1)(b) of this title related to the accommodation concerned and, also, the share pertaining to said accommodation in the facilities. Furthermore, said deed of transfer shall contain a warning, in conspicuous type, stating that the accommodation being transferred pursuant to such deed is not subject to the provisions of §§ 1291 et seq. of this title, known as the “Horizontal Property Act of Puerto Rico”, so the transferee thereof shall not be entitled to many of the protective measures afforded by §§ 1291 et seq. of this title, supra, to purchasers of apartments or units in condominiums. If the land on which the structure containing the accommodation is located is held under a recorded lease, surface right or usufruct title, the deed shall so state, specifying the date on which the recorded lease, surface right or usufruct expires.
History —Dec. 26, 1995, No. 252, § 12-114.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1264b/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1264b - Contents of deed of dedication—Transfer of timeshares or vacation club rights
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1264b - Contents of deed of dedication—Transfer of timeshares or vacation club rights
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The deed of transfer of each real property right over a timeshare or vacation club right in an individual accommodation shall state, in addition to the particulars described in § 1264(1)(b) of this title with respect to the accommodation which is the object of the timeshare or vacation club right, the share pertaining to said timeshare or vacation club right in the facilities, as well as a full and accurate identification of the timeshare or vacation club right being conveyed, as the same was identified in the deed of dedication. Furthermore, said deed of transfer shall contain a warning, in conspicuous type, stating that the timeshare or vacation club right being transferred (as applicable) pursuant to such deed not subject to the provisions of §§ 1291 et seq. of this title, or of §§ 1295 et seq. of this title, so the transferee thereof shall not be entitled to many of the protective measures afforded by the Horizontal Property Regime or the Condohotel Regime, to purchasers of apartments or units in condominiums or condohotels. If the land on which the structure containing the accommodation which is object of the timeshare or vacation club right to be transferred is held under a recorded lease, surface right or usufruct title, the deed conveying the real property right over the timeshare or vacation club right in question shall so state, specifying the date on which the recorded lease, surface right or usufruct expires.
History —Dec. 26, 1995, No. 252, § 12-115; July 29, 2010, No. 106, § 2.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1264c/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1264c - Copies of plans to be appended to deeds; authentication
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1264c - Copies of plans to be appended to deeds; authentication
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The certified copy of the deed of dedication to the timeshare or vacation club regime and the certified copy of the deed of transfer giving rise to the first registration of a transfer of real property right over an individual accommodation or a timeshare or vacation club right therein, in the Registry of Property, shall have attached thereto full and exact copies of the plans of the property or the accommodation in question as the case may be, so that said plans may remain filed in the Registry of Property. Said plans shall be certified, free of charge, by the Regulations and Permits Administrator or his sucessor and shall indicate graphically the particulars of the property or of the accommodation, as the case may be.
When it is desired to dedicate to the timeshare or vacation club regime an existing property whose plans are not on record in the files of the Regulations and Permits Administration, or any agency that replaces the same in its functions, it shall be so established through a certificate issued to that effect by the administrator of said government agency. In such case, there shall be attached to the certified copy of the deed of dedication to the timeshare or vacation club regime and to the certified copy of the deed originating the first registration of a transfer of a real property right over an individual accommodation or a timeshare or vacation club right therein, a set of plans certified by an engineer or architect authorized to practice his profession in Puerto Rico, showing graphically and clearly the particulars of the property or accommodation, as the case may be.
The certified copy of the deed dedicating the property to the timeshare or vacation club regime shall also have attached an appraisal of said property certified by an appraiser authorized to practice his profession in Puerto Rico. Said appraisal shall be used to determine the registration fees to be paid in the Registry of Property.
History —Dec. 26, 1995, No. 252, § 12-116; July 29, 2010, No. 106, § 3.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1265/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1265 - Accommodations, manner of recordation—Generally
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1265 - Accommodations, manner of recordation—Generally
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The property dedicated to the timeshare or vacation club regime is organized in the Registry by a system of property records interconnected by marginal notes in cross reference.
The registration of the structures erected on the land shall be made under the property record of the land and shall be known as matrix property.
Each individualized accommodation shall be registered as a separate property, by an individual record, filial of the matrix property.
Each of said registrations shall be preceded by the word “Timeshare Accommodation” or “Vacation Club Accommodation”, as applicable, and the name of the regime of which the same is a part.
History —Dec. 26, 1995, No. 252, § 12-117.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1265a/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1265a - Timeshares and vacation club rights, manner of recordation—Generally
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1265a - Timeshares and vacation club rights, manner of recordation—Generally
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The timeshares or vacation club rights which may be recorded in the Registry in accordance with the provisions of this chapter shall be interconnected by marginal notes in cross reference, also.
The registration of the timeshares or vacation club rights shall be made under the property record of the individual accommodation which is the object of the timeshare or vacation club right. Each of said accommodations shall be the timeshare or vacation club matrix property with respect to its corresponding timeshares or vacation club rights.
Each individualized timeshare or vacation club right conveyed shall be registered as a separate property by an individual record, filial of its corresponding timeshare or vacation club matrix property.
All of the aforesaid registrations shall be preceded by the words “Timeshare” or “Vacation club right”, as the case maybe, followed by an accurate identification of the accommodation which is the object thereof, the regime of which the same is a part and of the right being conveyed.
History —Dec. 26, 1995, No. 252, § 12-118.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1265b/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1265b - Details regarding registering building under principal record
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1265b - Details regarding registering building under principal record
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At the time of registering the timeshare or vacation club regime under the matrix record, there shall be set forth, as particulars of the entry, those enumerated in § 2308 of Title 30, in accord with those of the regulations for its execution, and with § 1264 of this title, except that with respect to the description of each accommodation contained in the property, for purposes of the entry in the matrix record, it shall be sufficient to state the number of accommodations contained in the property, number and type of accommodations in each floor, setting forth the number of each one, the area and the share pertaining to each in the facilities, all without prejudice to the provisions of § 1265c of this title for the registration of the individual accommodations. Furthermore, there shall be set forth the structures planned, those begun and those completed, as the case may be.
Also, the facilities shall be recorded by said entry, in favor of the developer of the whole property and, thereafter, of the owners of the accommodations, the timeshares or the vacation club rights, as applicable, without stating their names and surnames, and in their corresponding proportions.
History —Dec. 26, 1995, No. 252, § 12-119.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1265c/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1265c - Details regarding registering accommodations by means of filial entries
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1265c - Details regarding registering accommodations by means of filial entries
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At the time of registering the accommodations by means of filial entries there shall be expressed, as particulars of the entry, those enumerated in § 2308 of Title 30, in accord with those of the regulations for its execution, and with § 1264a of this title, except those mentioned under § 1264(1)(a) of this title.
As to the share in the facilities which, in the proper case, appertains to the accommodation owner, there shall be made a pertinent and brief reference to the matrix record where they appear entered.
Not until construction of the structures upon the floor of the respective accommodation shall have begun may such accommodation be recorded as a filial or independent estate. Where structures in the accommodations have been commenced but not completed, there shall be indicated those completed and those pending construction.
History —Dec. 26, 1995, No. 252, § 12-120.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1266/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1266 - Details regarding registering timeshares or vacation club rights by means of filial entries
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1266 - Details regarding registering timeshares or vacation club rights by means of filial entries
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At the time of registering the timeshare or vacation club rights by means of filial entries, there shall be expressed, as particulars of the entry, those enumerated in § 1264b of this title, as well as the following:
(1) The name of the seller or transferor of the timeshare or vacation club right being conveyed.
(2) The name of the purchaser or transferee of said timeshare or vacation club right.
(3) A description of any liens encumbering the timeshare or vacation club right being conveyed and the name of the lienholder(s) thereof.
As to the share in the facilities corresponding to each owner of the said timeshares or vacation club rights, there shall be made a pertinent and brief reference to the corresponding timeshare or vacation club matrix record where they appear entered.
History —Dec. 26, 1995, No. 252, § 12-121.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1266a/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1266a - Declaration by public deed upon completion of structures; recording
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1266a - Declaration by public deed upon completion of structures; recording
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The structures planned or begun which have been recorded pursuant to § 1265b of this title, or the structures already commenced pursuant to the provisions of said § 1265b, shall be declared by public deed upon their completion. Such declaration shall be made by the developer and shall be recorded under the particular entry of the respective property. The final description of each completed accommodation may be recorded, even though only the structures planned or under construction appear recorded, and a marginal reference note shall be made under the matrix record.
History —Dec. 26, 1995, No. 252, § 12-122.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1266b/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1266b - Conveyances or encumbrances
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1266b - Conveyances or encumbrances
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The conveyance or encumbrance referred to in § 1262b of this title shall be entered under the particular matrix record, but in cases coming under § 1262c of this title, the entry shall be made under the particular filial record of the accommodation in accordance with the provisions of the last sentence of § 1265c of this title, accommodation to which the same belongs in accordance with § 1266 of this title.
History —Dec. 26, 1995, No. 252, § 12-123.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1266c/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1266c - Succeeding transactions; entry of proportional share in facilities as unnecessary
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1266c - Succeeding transactions; entry of proportional share in facilities as unnecessary
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Succeeding transactions of the accommodations, timeshares and vacation club rights shall be entered under the filial records of the respective accommodations, timeshares and vacation club rights.
The proportional share or percentage in the facilities appertaining to the owner of each accommodation, timeshare and vacation club right shall be deemed conveyed or encumbered jointly with the corresponding accommodation, timeshare or vacation club right, as the case may be, without need of entering under the matrix record, or the corresponding timeshare or vacation club matrix record, as applicable, such conveyance or encumbrance of the proportional share in the facilities.
History —Dec. 26, 1995, No. 252, § 12-124.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1266d/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1266d - New floors, acquisitions of adjacent land, cancellation of liens, cautionary notices
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1266d - New floors, acquisitions of adjacent land, cancellation of liens, cautionary notices
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Notwithstanding the provisions of § 1266c of this title, new floors added, a use determination made by a developer after having made the reservation referred to in § 1264(2)(d) of this title or new portions of adjacent land acquired by the developer and grouped with the timeshare or vacation club property shall be registered under the matrix record accompanied by the corresponding adjustments, if any, on each of the accommodation’s, timeshare’s and vacation club right’s share in the facilities. Likewise, the total or partial cancellation of liens existing prior to the dedication of the property to the timeshare or vacation club regime and the cautionary notices or entries making express reference to the property, or to the facilities thereof as a whole, shall be entered under the matrix record, always leaving marginal notes of these operations in the filial entries.
History —Dec. 26, 1995, No. 252, § 12-125; Jan. 5, 1999, No. 3, § 36.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1266e/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1266e - Termination; merger of filial estate in record
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1266e - Termination; merger of filial estate in record
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The owners, including the developer of a property dedicated to the timeshare or vacation club regime, by a majority of sixty-six and two-thirds percent (66 2 / 3 %) of the voting power of all owners, may terminate the regime and request of the Registrar: (i) the regrouping or merger of the filial properties corresponding to each timeshare or vacation club matrix property, and (ii) the regrouping or merger of the filial accommodations (properties) in the matrix property; Provided, That the aforesaid filial properties referred to in (i) and (ii) are unencumbered or, in lieu thereof, that the persons in whose favor said properties are encumbered agree to substitute the security or interest they may have in said properties, for the participation pertaining to such owners in the timeshare or vacation club matrix property or in the matrix property at the time of such termination, as applicable, within the common property regime provided in §§ 1271 et seq. of this title that will result from said termination.
Upon the expiration of the term for which the timeshare or vacation club regime was constituted, the regime shall automatically terminate and the developer and the owners shall each have an undivided interest in common with all other owners in the totality of the real and personal property then owned by the timeshare plan or vacation club equivalent to the proportion their respective participation in the timeshare plan or vacation club bears, at the time of such expiration to the aggregate of all participation in the same; and any lien on any timeshare, vacation club right or accommodation shall become a lien on the undivided interest in the totality of the real and personal property corresponding to the former owner of the timeshare, vacation club right or accommodation subject to the lien. In such event, the developer or any owner may request from the Registrar: (i) the regrouping or merger of the filial properties corresponding to each timeshare or vacation club matrix property; (ii) the regrouping or merger of the filial accommodations (properties) in the matrix property, in accordance with the provisions of the preceding paragraph, and (iii) the recording of the respectively resulting undivided interests in the property formerly dedicated to the regime. The maximum recording fee for the foregoing operations shall be five hundred dollars ($500) or such higher amount as the Company may from time to time establish by regulation.
History —Dec. 26, 1995, No. 252, § 12-126.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1266f/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1266f - Merger as no bar to subsequent dedication of property
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1266f - Merger as no bar to subsequent dedication of property
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The merger provided for in § 1266e of this title shall in no way bar the subsequent dedication of the property to the timeshare or vacation club regime whenever so desired and upon the observance of the provisions of this chapter.
History —Dec. 26, 1995, No. 252, § 12-127.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1267/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1267 - Bylaws; insertion or attachment to deed; certified copies filed
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1267 - Bylaws; insertion or attachment to deed; certified copies filed
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The administration of every property dedicated to the timeshare or vacation club regime shall be governed by the provisions of this chapter and also by bylaws which shall be inserted in or attached to the deed of dedication, and considered a part thereof. A certified copy of said deed and of the bylaws and of any amendment thereto shall be filed in the Registry of Property and copies thereof delivered to each owner, prior to the time of their acquisition of their corresponding accommodation, timeshare or vacation club right, as the case may be, or shortly after the date of execution of the aforesaid amendment(s), as applicable.
History —Dec. 26, 1995, No. 252, § 12-128.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1267a/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1267a - Contents of bylaws; modifications of system; recording
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1267a - Contents of bylaws; modifications of system; recording
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The bylaws referred to in § 1267 of this title, may contain all such standards and rules with respect to the use of the property, the regime, its accommodations and facilities, as well as the timeshares or vacation club rights, exercise of rights, installations, and services, expenses, administration and government, insurance, upkeep and repairs, as do not contravene the provisions of §§ 1262—1268e of this title, including, without limitation, the following:
(a) Form of administration, stating the powers of the entity administering the regime.
(b) Definition of majority which shall govern for the regime in question on those matters to be submitted to the consideration of the owners.
(c) Care, upkeep and surveillance of the property, the regime and the facilities.
(d) Manner of collecting the funds from the owners for the payment of the common expenses and any distinctions which may exist in the method of assessment among the owners of their share in said expenses or the amounts thereof.
(e) Manner and method of recalling the managing entity, consistent with § 1256e of this title.
At any time the developer, and/or the owners, as may be set forth in the deed of dedication of the regime, may modify the bylaws referred to in § 1267 of this title. No such modification shall be operative until it is embodied in public deed form and, in addition, be recorded in the particular entry of the matrix property, with a certified copy filed in the Registry of Property, as provided in § 1267 of this title.
History —Dec. 26, 1995, No. 252, § 12-129; Jan. 5, 1999, No. 3, § 37.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1267b/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1267b - Notice to managing entity
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1267b - Notice to managing entity
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The developer will inform the managing entity, within thirty (30) days following the date of disposition of an accommodation, timeshare or vacation club right, as the case may be, the name, surname, personal circumstances and address, the date and other particulars of the new owner’s acquisition of the accommodation, timeshare or vacation club right, as the case may be, including copies of the documents evidencing such information, and the managing entity shall hold said documents in trust for the benefit of the owners.
In the case of a sale or other disposition of the accommodation, the timeshare or vacation club right, or of a lease of an accommodation, as the case may be, the owner shall so inform the managing entity, stating the name, surname, personal circumstances and address of the purchaser or other transferee, or lessee, as the case may be. Furthermore, such owner shall require from the purchaser, other transferee, or lessee for a term exceeding thirty (30) days, a statement in the deed of transfer or lease agreement, as the case may be, that he knows and will comply fully with the provisions of this chapter and of the timeshare or vacation club documents.
The owner of an accommodation as less or of the corresponding accommodation shall continue exclusively responsible for the contributions for the common expenses and shall also be responsible for the lessee’s compliance with this chapter and the timeshare or vacation club documents.
History —Dec. 26, 1995, No. 252, § 12-130.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1268/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1268 - Contributions for payment of expenses of administration and maintenance
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1268 - Contributions for payment of expenses of administration and maintenance
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The owners are bound to contribute toward the expenses of administration, maintenance and repair of the facilities, as well as toward any other common expenses that may have been lawfully agreed upon in accordance with their corresponding shares.
No owner may exempt himself from his obligation of contributing toward such expenses by waiver of the use or enjoyment of the facilities or by abandonment of the accommodation, the timeshare or vacation club right, as applicable, belonging to him.
The proportionate amount with which each owner must contribute toward the common expenses, any penalties, late charges and interest to be paid by any owner which fails to make the corresponding payment of common expenses and any distinction to be established in the method of assessment among the owners of their share of such common expenses or the amounts thereof shall be determined, fixed and imposed, as set forth in the deed of dedication.
History —Dec. 26, 1995, No. 252, § 12-131; Jan. 5, 1999, No. 3, § 38.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1268a/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1268a - Obligation of owners for common expenses, lien
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1268a - Obligation of owners for common expenses, lien
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The obligation of each owner for his proportionate share in the common expenses shall constitute a lien on his corresponding accommodation, timeshare or vacation club right. Therefore, the voluntary acquirer of an accommodation timeshare or vacation club right shall be jointly liable with the conveyer thereof for the amounts owing by the latter, pursuant to this subchapter, up to the time of the conveyance, without prejudice to the acquirer’s right to recover from the other party, the amounts paid by him as such joint debtor.
The aforesaid obligation shall be enforceable on whomever maybe the owner of the accommodation, timeshare or vacation clubright, even if the same has not been recorded in the Registry of Property, or alienated in favor of any person.
Notwithstanding any provision to the contrary in any other statute, the lien herein constituted shall be subordinate only to (i) the lien for real property taxes constituted pursuant to the provisions of §§ 4001 et seq. of Title 21, known as the “Autonomous Municipalities Act of the Commonwealth of Puerto Rico of 1991” or any successor statute thereto (ii) the lien which may be constituted by any present or future statute providing for the creation of tourism improvement districts and intended to secure the collection of any assessments which may be imposed in connection with said districts, and (iii) the lien which may be constituted by any present or future statute providing for the creation of special infrastructure improvement districts and intended to secure the collection of any assessments which may be imposed in connection with said districts. The effectiveness of this lien shall not require the recording in the Registry of Property of an attachment to the property so encumbered, but the lien shall only secure against third parties an amount equivalent to the last five annual charges of assessments of common expenses and the current year.
The delinquent titleholder shall be required by certified mail, return receipt requested, sent to the last address of record with the administrative entity to pay all sums owed on account of its unpaid participation in common expenses. Said demand will also contain a warning to the effect that if payment is not made within thirty (30) days, the creditor may proceed to collect the indebtedness by means of the non-judicial procedure established in Subchapter XIII of this chapter.
Upon expiration of the aforesaid thirty (30) days, the creditor of a debt for unpaid common expenses may obtain a cautionary notice of attachment of the real property right over the time share or vacation club right or the individual accommodation of the delinquent titleholder, without any requirement other than the presentation in the Registry of Property of a certificate of attachment executed by an authorized officer of the managing entity under oath, either before a notary public setting forth the following:
(1) Name and social security of the delinquent titleholder, if such information is contained in the records of the managing entity (but the validity of the certificate of attachment will not be affected if the social security number is omitted or is incorrectly transcribed),
(2)
(a) In the case of an individual accommodation, the particulars described in § 1264(1)(b) of this title, related to the specific accommodation, as well as the share pertaining to that accommodation in the facilities.
(b) In the case of a time share or vacation club right, the particulars described in § 1264(1)(b) of this title, related the accommodation which is the object of the timeshare or vacation club right, the share pertaining to said timeshare or vacation club right in the facilities, as well as a full and accurate identification of the timeshare or vacation club right being conveyed, as the same was identified in the deed of dedication.
(3) The recording data of the right subject to the cautionary notice.
(4) The total amount of unpaid common expenses.
(5) That said amount is due and payable in full.
(6) A summary of the steps previously taken to demand payment and that, in spite thereof, payment has not been made.
Once the certificate of attachment is filed in the Registry of Property, said certificate shall constitute sufficient notice of attachment after which the nonjudicial foreclosure procedure of this Subchapter XIII of this chapter may be commenced. Immediately after the receipt of the certification of attachment, the Registrar in charge of the corresponding Section of the Registry of Property in which the certification was filed, shall record and return the same to the creditor within sixty (60) days, confirming that it has been recorded, in which case the fees to be collected by the Registry shall be as established in §§ 2001 et seq. of Title 30, better known as “the Mortgage Law of Puerto Rico”.
If a certificate of sale of a real property right subject to attachment is filed, the cautionary notice will be of no further force and effect and shall be cancelable as provided in §§ 2456 and 2465 of Title 30.
Any titleholder who owes two or more installments of common expenses shall be temporarily deprived of the exercise of his right to vote at the meeting of owners of the regime until his debt is fully paid and the managing entity shall have the right to cut off any services being provided to the accommodation assigned to the delinquent titleholder during his occupancy period, subject to the managing entity’s prior compliance with the provisions contained in subsection (5) of § 1256c of this title with respect to the denial of use of accommodations and facilities of a timeshare plan or vacation club to third parties receiving use rights in the delinquent’s titleholder timeshare or vacation club period through an affiliated exchange program when such third parties are involved.
History —Dec. 26, 1995, No. 252, § 12-132; Jan. 5, 1999, No. 3, § 39; July 29, 2010, No. 106, § 4.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1268b/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1268b - Validity of timeshare or vacation club regime dedication documents
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1268b - Validity of timeshare or vacation club regime dedication documents
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All provisions of the documents dedicating a property to the timeshare or vacation club regime shall be deemed severable and any unlawful provision thereof may be declared null and void by a court of competent jurisdiction; Provided, however, That the remainder of the terms of such documents shall remain in full force and effect.
History —Dec. 26, 1995, No. 252, § 12-133.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1268c/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1268c - Expansion and contraction of regimes
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1268c - Expansion and contraction of regimes
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No timeshare plan or vacation club may be expanded or contracted with respect to property located in Puerto Rico except in accordance with the applicable provisions of the deed of dedication, § 1255b of this title and §§ 1262—1268g of this title. Any such expansion or contraction shall be deemed to have occurred after compliance with the aforesaid provisions, at the time of the recording at the Property Registry of the corresponding amendments to the deed of dedication duly executed by the developer and/or the owners as set forth in the deed of dedication.
Said amendments shall include a revised legal description of the property on which the regime is located, including the particulars of any property added to the regime, in accordance with the provisions of § 1264(1) of this title as well as description of the rights of the owners therein, including a readjustment of their respective shares in the facilities of the regime. In the case of an expansion to include new property, the aforesaid amendment shall be accompanied by the appraisal referred to in § 1264 of this title with respect to the new property and such appraisal shall be used to determine the registration fees of such amendment in the Property Registry.
The aforesaid amendment shall be filed in the section of the Property Registry where the properties affected are located and shall be accompanied by a set of plans prepared in accordance with § 1264c of this title showing the particulars of the new regime.
History —Dec. 26, 1995, No. 252, § 12-134; Jan. 5, 1999, No. 3, § 40.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1268d/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1268d - Merger of regimes
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1268d - Merger of regimes
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Any two (2) or more timeshare or vacation club regimes, as provided in their corresponding deeds of dedication, may merge or be consolidated into a single regime pursuant to the terms of a deed of merger of regimes to be executed by the parties having such authority under the corresponding deeds of dedication of the regimes subject of such merger (hereinafter the “deed of merger”). Unless the deed of merger otherwise provides, the regime resulting from such merger or consolidation shall be, for all purposes, the legal successor of all of the preexisting regimes and the operations and activities of all associations of the preexisting regimes, if any, shall be merged or consolidated into a single regime which shall hold all powers, rights, obligations, assets and liabilities of the preexisting associations.
The deed of merger shall also provide for the readjustment of the shares among the accommodations, timeshares and vacation club rights of the resultant regime.
The aforesaid deed of merger shall constitute an amendment to the deeds of dedication of all the regimes involved in said merger which shall comply with the provisions of and be recorded as provided in § 1268c of this title. The maximum recording fee for the aforegoing operation shall be five hundred dollars ($500.00) or such higher amount as the Company may from time to time establish by regulation.
History —Dec. 26, 1995, No. 252, § 12-135; Jan. 5, 1999, No. 3, § 41.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1268e/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1268e - Maximum sales of accommodations
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1268e - Maximum sales of accommodations
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Notwithstanding anything to the contrary provided in this chapter, the developer shall not have the right to sell, transfer or otherwise convey any accommodation at any time if the result of said sale, transfer or conveyance will be that the number of accommodations sold, transferred or conveyed will exceed the number or accommodations in connection with which timeshares or vacation club rights have been sold.
History —Dec. 26, 1995, No. 252, § 12-136.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xii/1268f/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f)›§ 1268f - Right of first refusal and right of redemption
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1268f - Right of first refusal and right of redemption
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Any right of first refusal and/or right of redemption that the developer may wish to establish with respect to the sale of timeshares or vacation club rights, as provided for in § 1264(1)(p) of this title, may be recorded in the Property Registry for the term provided for in the deed of dedication, which term may extend for the whole term of the timeshare or vacation club regime and be recordable in the Property Registry, notwithstanding any provision to the contrary contained in §§ 2001 et seq. of Title 30, known as the “Mortgage and Property Registry Act”.
History —Dec. 26, 1995, No. 252, added as § 12-137 on Jan. 5, 1999, No. 3, § 42.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiii/1268g/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n)›§ 1268g - Foreclosure procedure
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n) › § 1268g - Foreclosure procedure
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Mortgagee or the managing entity (hereinafter referred to as the “creditor”) may foreclose on the lien constituted either pursuant to public sale before Notary Public who act as an independent auctioneer named by the Mortgagee in compliance with the terms and conditions of this Act or, pursuant to a judicial proceeding available under law before a court of competent jurisdiction in Puerto Rico, as provided for herein.
History —Dec. 26, 1995, No. 252, added as § 13-101 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiii/1268h/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n)›§ 1268h - Default and notice
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n) › § 1268h - Default and notice
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(1) If the mortgagor or the owner of the real property right over the timeshare or vacation club right (hereinafter referred to as the “debtor”) defaults on its payment obligation under § 1268a of this title, or the mortgage contract encumbering the real property right over the timeshare or vacation club right, the creditor shall serve notice on the debtor, by certified mail, return receipt requested, of a demand for payment, executed under oath before a notary public, which shall conform to the following:
(a) Addressed to the debtor or if a different person is the owner, to the titleholder as reflected in the records maintained by the managing entity.
(b) Total amount due and payable.
(c) A warning in bold, conspicuous type that if within thirty (30) days from the date of receipt of said demand for payment, the default has not been cured, the non judicial foreclosure and public sale proceedings of the individual accommodation, the real property timeshare or vacation club right encumbered by said obligation shall be commenced.
(2) Upon expiration of the aforesaid term of thirty (30) days, the creditor may obtain a cautionary notice of attachment of the individual accommodation, the real property timeshare or vacation club right of the debtor, without any other requirement than the filing in the Registry of Property of a certificate of attachment executed by an authorized representative of creditor under oath before a notary public stating the following:
(a) Name and social security number or employer identification number of the debtor, and of the current owner, if a different person, as reflected in the records of the managing entity (however, the validity of the certificate of attachment shall not be affected if the social security number or employer’s identification number is omitted or if an incorrect social security number or employer’s identification number is included).
(b) The information described in § 1264(1)(b) of this title.
(c) The recording data of the right that will be subject to the cautionary notice.
(d) The total amount of the indebtedness.
(e) That the said indebtedness if due and payable in full.
(f) The steps taken to demand payment and that in spite thereof, the amount owed has not been paid.
After filing the certificate of attachment in the Registry of Property, a copy shall be delivered to the debtor and/or the current owner, if it is a different person, by certified mail, return receipt requested, and such copy shall be deemed sufficient notice of the attachment and thereafter the foreclosure proceedings provided for in this chapter may commence.
(3) A copy of the certification of attachment shall also be sent by certified mail, return receipt requested to all junior lien holders and to the holders of other real property rights inferior to the right being foreclosed, whose identity appears from the Registry of Property, which would be those who may have acquired a secured credit or real property right subsequent to the right being foreclosed and which are deemed inferior in rank.
(4) Immediately after the filing of the certification of attachment, the Registrar in charge of the corresponding Section of the Registry of Property must record the same and return it within sixty (60) days to the creditor confirming the registration thereof, and in such case shall charge a fee as established in §§ 2001 et seq. of Title 30, better know[n] as the “Mortgage Act of Puerto Rico”.
(5) Upon the subsequent filing of the certificate of sale of the attached right, the cautionary notice of attachment shall be of no further force and effect, and may be cancelled as provided in §§ 2456 and 2465 of Title 30, upon payment of a fee corresponding to a marginal notation with no value.
(6) The individual accommodation, real property timeshare or vacation club right may be sold by public sale to satisfy the indebtedness and the date of said sale shall be no less than thirty (30) days after receipt by the debtor of the certified copy of the certificate of attachment. If the return receipt attesting to the delivery of the certification of attachment to the persons mentioned in subsections (2) and (3) of this section is not received from the United States Postal Service, the creditor may only foreclose on its lien pursuant to the judicial procedure established in this chapter.
History —Dec. 26, 1995, No. 252, added as § 13-102 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiii/1268i/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n)›§ 1268i - Opposition to the notice of default and intention to sell
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n) › § 1268i - Opposition to the notice of default and intention to sell
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(1) Following the receipt of the notice and demand for payment specified in § 1268h of this title, the debtor or current titleholder, if a different person, may contest the demand for payment within thirty (30) days of receipt thereof, by means of a notice sent by certified mail, return receipt requested, to the creditor, including the evidence establishing that the amount claimed has been paid or that the amount owed is less than the amount claimed. The creditor shall have ten (10) days from the receipt thereof to review the payment evidence submitted.
(2) If the mortgagor and the mortgagee are unable to reach an agreement over the existence of the indebtedness or over the balance owed, foreclosure shall be carried out pursuant to ordinary proceedings before a court of competent jurisdiction in Puerto Rico.
(3) If an opposition is not received within the term herein provided, the creditor may sell the timeshare or vacation club right pursuant to the procedure provided for in the following sections.
History —Dec. 26, 1995, No. 252, added as § 13-103 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiii/1268j/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n)›§ 1268j - Notice of sale
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n) › § 1268j - Notice of sale
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Before conducting a non-judicial public sale pursuant to this section, the creditor will publish a notice of public sale in a newspaper of general circulation in Puerto Rico, once a week, for two (2) consecutive weeks prior to the date of the auction. The last notice must be published at least five (5) days prior to the date of the auction. The notice of auction shall include the following:
(1) The name, physical address and postal address of the creditor.
(2) That all the documentation corresponding to the foreclosure proceedings are available at the offices of the creditor and at the offices of the managing entity.
(3) That bidders at the non-judicial public sale agree to accept that the title to be conveyed pursuant thereto, and all preferential liens and encumbrances senior to the creditor’s lien, if any, will continue to encumber the timeshare or vacation club right and, the successful bidder at the non-judicial public sale accepts and agrees to be bound by the same and to assume all liabilities with respect thereto, and that none of the proceeds received from the non-judicial public sale will be used to pay off any such senior liens. The notice shall specify the amount of each senior lien or preferential lien or encumbrance and the name or names of the holders thereof and the date or dates when such obligations become due based on the records of the Registry of Property.
(4) The description of the right subject of the non-judicial public sale.
(5) The minimum sale price and other relative details regarding the non-judicial public sale.
(6) The date, time and place when the non-judicial public sale will be held.
The notice of non-judicial public sale shall also serve to announce the auction to creditors who have recorded or noted the rights over the property right to be sold junior to the credit being foreclosed or to holders of encumbrances or rights who may have subordinated them to the credit of the foreclosing creditor, and to owners, possessors, or holders of, or parties having an interest in instruments conveyable by endorsement, or to the bearer, which are secured by a mortgage junior to the creditor’s lien and on which the personal notification of the certificate of attachment would have no effect, stating in the text of the notice the names of all these interested parties, if they appear in the Registry of Property, the records of the creditor and of the managing entity so that they may attend the non-judicial public sale, if they so desire, which may be postponed without further notice, as provided in subsection (4) of § 1268 l of this title or before the non-judicial public sale is held, payoff the indebtedness, together with interests, and costs incurred by the creditor prior to the sale, whereupon such person will be subrogated in the rights of the creditor.
History —Dec. 26, 1995, No. 252, added as § 13-104 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiii/1268k/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n)›§ 1268k - Non-judicial public sale
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n) › § 1268k - Non-judicial public sale
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(1) The non-judicial public sale of the individual accommodation, the real property timeshare or vacation club right shall be held in the municipality where the timeshare or vacation club right is located on the date, time and place designated in the public sale announcement pursuant to § 1268j of this title.
(2) Any person, including the creditor, may bid at the non judicial public sale.
(3) The purchaser at the non-judicial public sale shall make payment by official bank check or cash on the same day of the sale in the amount for which the right was sold at the non-judicial public sale. The creditor or holder of the lien in question may bid its credit in lieu of an official bank check or cash, and should it be awarded the bid, the credit in question shall be extinguished.
(4) The proceeds of the non-judicial public sale shall be applied first, to the payment the costs and expenses of the public sale, second, to the payment of the indebtedness in question, interest and penalties accrued thereon and legal fees and finally, to the payment of junior liens. All liens that are senior to the foreclosed lien will not be impaired by the non-judicial public sale and the purchaser of the right in question will assume responsibility for the payment thereof.
History —Dec. 26, 1995, No. 252, added as § 13-105 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiii/1268l/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n)›§ 1268l - Non judicial public sale proceedings before notary public
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n) › § 1268l - Non judicial public sale proceedings before notary public
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(1) The non-judicial public sale shall be held before a notary public selected by the creditor to act as an independent auctioneer, before another notary public required by the former to witness and attest to the details of said public sale under his notarial certification. Neither of the two (2) notary publics may have intervened in the preparation of the documents whereby the credit under foreclosure was created. The notary fees will be paid to the notary public that grants the deed of transfer of rights based on the value of the real property right to be executed, as established under the Puerto Rico Notary Act.
(2) Prior to the commencement of the non-judicial public sale, the creditor shall furnish the following documents to the notary public:
(a) True and exact copies of the documentation constituting the credit.
(b) True and exact copy of the demand for payment delivered to the mortgagor, with the corresponding evidence of return receipt.
(c) True and exact copy of the certification of attachment and evidence of its filing in the Registry of Property, as well as the corresponding return receipts from debtor, the current title holder, if a different person, and from the junior lien holders, if any, as they may appear in the Registry of Property.
(d) True and exact copy of the notice of sale.
(e) Original sworn statement document executed by the representative of the newspaper in which the notice of sale was published, certifying the publication thereof as provided by this chapter.
The creditor shall certify to the notary public that the documents specified in the foregoing clauses (a)—(d) of this subsection, are true and exact copies of their originals. The notary public shall enumerate all of the foregoing documents in the deed of transfer of rights (“escritura de transmisión de derecho”), as is provided hereinafter and shall certify that the same were reviewed and found to comply with the requirements of this section.
(3) The non-judicial public sale shall be carried out in the following manner:
(a) The individual accommodation, real property timeshare or vacation club right shall be sold by public auction, for the minimum bid price stated in the notice of public sale.
(b) If a mortgagee or other person who holds a lien or encumbrance upon the property should pay the all amounts claimed by the creditor before the non-judicial public sale, the money paid by such person shall be accrued to his/her credit and may be recovered at the same interest his/her credit earns.
(c) If no bids are received at the non-judicial public sale, the creditor may take title to the right subject thereto for an amount equal to the minimum bid. If the amount of said minimum bid is insufficient to cover the full amount owed to the creditor, with penalties and costs, then said creditor may commence a collection action before a court of competent jurisdiction in Puerto Rico in order to collect the deficiency due and in such a proceeding may obtain an order to attach real and personal property of the debtor without bond.
(d) If the right sold in the non-judicial public sale is sold to a third person and the amount for the bid price is insufficient to pay the full amount owed to the creditor, with penalties and costs, then said creditor may commence a collection action before a court of competent jurisdiction in Puerto Rico in order to collect the deficiency due and in such a proceeding may obtain an order to attach real and personal property of the debtor without bond.
(e) The person acquiring title to the individual accommodation, real property timeshare or vacation club right at a non-judicial public sale shall acquire title as is, where is and without any warranty by the creditor, the notary public or auctioneer, including, without limitation, the warranties of title and against latent defects provided by the Civil Code of Puerto Rico.
(f) If the real property timeshare or vacation club right in question is sold to a third person, the creditor, after satis-faction of the amount of its credit, shall distribute the remaining proceeds to the junior lien holders, if any, according to rank as per the Registry of Property, equal to the outstanding balance of its credit, and if there are any proceeds left, they shall be delivered to the debtor or titleholder, if a different person.
(4) The foreclosing creditor may suspend and continue the public sale on a day-to-day basis if he/she so deems necessary, and subject to force majeur, may suspend the public sale for a period not to exceed thirty (30) days by means of verbal notice to the persons attending the public sale. The notary public shall be required to attend the continuance of any public sale and, if not available, the notary public shall execute a notarial deed describing the proceedings of the day, including the verification of documents described in subsection (2) of this section and the basis for the suspension of the public sale and any other details. The notarial deed will be part of the deed of transfer of rights (“escritura de transmisión de derecho”).
(5) Upon conclusion of the non-judicial public sale, the notary public will prepare a deed of transfer of rights (“escritura de transmisión de derecho”) describing the events which the notary witnessed, including the following:
(a) Name and social security number or employer’s identification number of the foreclosing creditor.
(b) Name, address, social security or employer’s identification number of public independent auctioneer.
(c) The Registry of Property description and recording data of the individual accommodation, real property timeshare or vacation club right subject of the public sale.
(d) The names of all the persons who attended the public sale and the day it actually took place, if such date is different.
(e) The verification of the documents described in subsection (2) of this section.
(f) The name of the winning bidder, his social security number or employer’s identification number and postal address.
(g) The amount of the sale.
(h) The awarding of title to the individual accommodation, real property timeshare or vacation club right subject of the non-judicial public sale to the highest bidder who shall pay to the foreclosing creditor the amount of the bid in cash or official bank check, the delivery of which shall be certified by the notary.
(i) That said amount satisfied the indebtedness in question or, if insufficient to satisfy the same, that the amount thereof was not fully satisfied.
(j) A statement attesting to the fact that the public sale was carried out in accordance with the provisions of this chapter.
(6) The foreclosing creditor, the independent auctioneer and the winning bidder will sign the deed of transfer of rights (“escritura de Transmisión de derecho”) and said document shall be evidence of the successful bidder’s title to the real property timeshare or vacation club right.
History —Dec. 26, 1995, No. 252, added as § 13-106 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiii/1268m/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n)›§ 1268m - Cancellation of liens and transfer of title after public sale
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n) › § 1268m - Cancellation of liens and transfer of title after public sale
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(1) A non judicial public sale carried out in accordance with this section excludes and extinguishes all interests in the individual accommodation, real property timeshare or vacation club right of all persons and/or entities holding recorded liens in the Registry of Property junior to the lien foreclosed upon.
(2) On the day of the public sale, upon receipt of the bid amount, the lien of the foreclosing mortgagor shall be deemed cancelled by virtue of the payment to said creditor of the proceeds of the public sale, if it is not the winning bidder, which cancellation shall be done in the same deed of sale or in a separate deed.
(3) The deed of transfer of rights (“escritura de transmisión de derecho”) shall be recordable in the Registry of Property upon payment of the corresponding filing fees and recording fees.
History —Dec. 26, 1995, No. 252, added as § 13-107 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiii/1268n/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n)›§ 1268n - Alternate judicial procedure
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIII - Non-Judicial Procedure for Foreclosure and Sale (§§ 1268g — 1268n) › § 1268n - Alternate judicial procedure
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(a) In lieu of the non-judicial foreclosure proceeding, the foreclosing creditor may file a petition before a court of competent jurisdiction in Puerto Rico, requesting the entry of judgment and an order of execution and public sale of the individual accommodation, real property timeshare or vacation club right subject to the lien being foreclosed, in accordance with the applicable provisions of the Mortgage Law and the Rules of Civil Procedure of Puerto Rico, including Rule 60, irrespective of the amount in controversy. The process will be initiated by filing a petition under oath or affirmation, under penalty of perjury stating that:
(1) The debtor or titleholder of the timeshare or vacation club right, if different, has not paid the indebtedness secured by the lien;
(2) the date of notification of the certificate of attachment together with evidence of mailing and receipt of the certified letter sent pursuant to § 1268h of this title;
(3) the term to contest the attachment has lapsed and the debtor or owner of the timeshare or vacation club right has not contested the procedure as provided in § 1268i of this title; and
(4) the claim is made in good faith and based on the mortgagee’s or creditor’s records, and
(5) the amount of the unpaid debt.
The petition shall include true and correct copies of the documents described in clauses (a), (b) and (c) of subsection (2) of § 1268 l of this title, which must be certified under oath or affirmation in the petition.
(b) The debtor or titleholder of the individual accommodation, real property timeshare or vacation club right shall be notified by the creditor with a copy of the petition in the manner provided by the Rules of Civil Procedure, after which, said debtor may serve on the creditor a response, which shall likewise be under oath or affirmation, under penalty of perjury, and which must state:
(1) That it is the debtor or owner of the individual accommodation, real property timeshare or vacation club right;
(2) that the amount claimed is not owed, either because of payment or because the amount owed is less than the amount claimed by the creditor, in which cases the evidence of payment must be attached to the response;
(3) any facts or circumstances to establish that creditor is not entitled to judgment under applicable law.
If the debtor pleads any of the aforementioned defenses, the response shall include true and exact copy of the evidence supporting the defenses.
(c) The court shall examine the petition and the response together with the evidence submitted by the parties in support of their respective positions and, unless a genuine issue as to a material fact is evident there from, or if the creditor is not otherwise entitled to judgment as a matter of applicable law, the court shall enter judgment for the creditor.
(d) Upon the judgment becoming final and unappealable, the creditor may move the court for an order decreeing the public sale of the right attached, which shall be carried out as provided in the Mortgage Law of Puerto Rico and the corresponding Rules of Civil Procedure of Puerto Rico.
(e) If from the documents before the court it appears that that [sic] a genuine issue as to a material fact does exist or that the creditor is not entitled to judgment as a matter of applicable law, the matter will continue as any regular adversary proceeding.
History —Dec. 26, 1995, No. 252, added as § 13-108 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiv/1269/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIV - General Provisions (§§ 1269 — 1269d)›§ 1269 - Exclusivity
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIV - General Provisions (§§ 1269 — 1269d) › § 1269 - Exclusivity
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Subject to the provisions of § 1269a of this title, this chapter shall be the sole and exclusive law of Puerto Rico governing the creation and disposition of accommodations, timeshares and vacation club rights; no timeshare plan or vacation club or component site thereof, the creation and operation of which, and the offer and disposition of timeshares or vacation club rights or accommodations in connection with which, complies fully with all of the provisions of this chapter, shall be subject to any other statute which, but for the enactment of this chapter, would require registration with the Company or another local regulatory authority as a legal prerequisite to the offer and disposition of timeshares or vacation club rights or accommodations in Puerto Rico or the applicable local jurisdiction.
History —Dec. 26, 1995, No. 252, § 13-102, renumbered as § 14-102 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiv/1269a/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIV - General Provisions (§§ 1269 — 1269d)›§ 1269a - Securities law exemption
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIV - General Provisions (§§ 1269 — 1269d) › § 1269a - Securities law exemption
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The offer and disposition of an accommodation, timeshare or vacation club right in a timeshare plan or vacation club which satisfies all of the requirements of this chapter shall not be deemed to constitute the offer and sale of a security under §§ 851 et seq. of Title 10, known as the “Uniform Securities Act”.
History —Dec. 26, 1995, No. 252, § 13-103, renumbered as § 14-103 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiv/1269b/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIV - General Provisions (§§ 1269 — 1269d)›§ 1269b - Act to Regulate Real Estate Business and Profession of Real Estate Broker, Salesperson or...
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIV - General Provisions (§§ 1269 — 1269d) › § 1269b - Act to Regulate Real Estate Business and Profession of Real Estate Broker, Salesperson or Companies in Puerto Rico—Application
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For purposes of §§ 3026 et seq. of Title 30, known as the “Act to Regulate the Real Estate Business and the Profession of Real Estate Broker, Salesperson or Companies in Puerto Rico” the purchase and sale, promise to sell, option to buy and exchange of an accommodation, a timeshare or vacation club right coupled with a special property interest shall be deemed to, respectively, constitute the purchase and sale, promise to sell, option to buy and exchange of real property; and the lease of an accommodation and the purchase and sale or lease or the transfer of the right-to-use of a right-to-use timeshare, vacation club right, however evidenced or documented, shall be deemed to constitute the lease of property.
No seller of accommodations, timeshares or vacation club rights related to a timeshares property located in Puerto Rico shall be subject to the provisions of § 3035 of Title 20, which require that all partners or shareholders of a real estate company hold a real estate broker’s license.
No seller of vacation club rights in a vacation club having a component site in Puerto Rico, though it may have one or more component sites outside of Puerto Rico, shall be subject to the following provisions of §§ 3025 et seq. of Title 20:
(a) Subsections (j), (k), (m), and (p) of § 3026 of Title 20;
(b) Section 3034(i) of Title 20;
(c) Subsections (a) and (b) of § 3035 of Title 20 requiring that all the partners or shareholders of a real estate company hold a real estate broker’s license.
(d) Sections 3044, 3046—3053 and 3055 of Title 20;
(e) Section 3057(b) of Title 20 [excepting the last paragraph of said section]; and
(f) Section 3060(b) of Title 20.
History —Dec. 26, 1995, No. 252, § 13-104; Jan. 5, 1999, No. 3, § 43; renumbered as § 14-104 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiv/1269c/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIV - General Provisions (§§ 1269 — 1269d)›§ 1269c - Innkeepers’ Act—Application
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIV - General Provisions (§§ 1269 — 1269d) › § 1269c - Innkeepers’ Act—Application
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Timeshare property and vacation club property shall be deemed included within the term “hotel” for purposes of applicability of §§ 711 et seq. of Title 10, known as the “Innkeepers Act of 1955”.
History —Dec. 26, 1995, No. 252, § 13-105, renumbered as § 14-105 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-ii-a/chapter-147/subchapter-xiv/1269d/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART II-A - Timeshare (§§ 1251 — 1269d)›Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d)›Subchapter XIV - General Provisions (§§ 1269 — 1269d)›§ 1269d - English version controls
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XIV - General Provisions (§§ 1269 — 1269d) › § 1269d - English version controls
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This chapter shall be enacted in both the English and Spanish languages; Provided, however, That in the event of a conflict in the interpretation of this chapter, the English language version shall prevail.
History —Dec. 26, 1995, No. 252, § 13-106, renumbered as § 14-106 on July 29, 2010, No. 106, § 10.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1271/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1271 - Property owned in common
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1271 - Property owned in common
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When the ownership of a thing or of a right belongs undividedly to different persons, it is held to be owned in common.
In default of contracts or of special provisions, the common ownership of property shall be governed by the provisions of §§ 1271-1285 of this title.
History —Civil Code, 1930, § 326.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1272/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1272 - Shares of participants; presumption of equality
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1272 - Shares of participants; presumption of equality
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The share of the participants in the benefits as well as in the charges, shall be proportioned to their respective shares.
The portions belonging to the participants in the common ownership shall be presumed equal until the contrary is proven.
History —Civil Code, 1930, § 327.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1273/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1273 - Use of things held in common
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1273 - Use of things held in common
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Each participant may use the things held in common, provided he uses them in accordance with the purpose for which they are intended and in such a way as not to injure the interests of the common ownership, nor prevent the co-participants from utilizing them according to their rights.
History —Civil Code, 1930, § 328.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1274/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1274 - Expense of preservation
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1274 - Expense of preservation
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Each of the co-participants shall have the right to oblige the others to contribute to the expenses of preserving the thing or right held in common. Only the person renouncing the share belonging to him in the ownership can exempt himself from this obligation.
History —Civil Code, 1930, § 329.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1275/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1275 - Stories or parts of stories of buildings belonging to different owners
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1275 - Stories or parts of stories of buildings belonging to different owners
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If the different stories of a building or parts of stories capable of utilization independently, on account of having their own exit to a common element thereof or to the public highway, belong to different owners, each of them shall have a particular and exclusive property right in the story or part thereof, and also a joint right of co-ownership in the other elements of the building necessary for its adequate use and enjoyment, such as the floor, foundations, basements, walls, moats, yards, wells, stairs, elevators, ways, hallways, covers, piping and electric wiring, drainage, easements, etc.
Parts in co-ownership are not, in any case, capable of division, and shall, in the absence of covenant, be presumed equal.
Repair and maintenance expenses of the common elements of the building shall, also in the absence of covenant, be paid for pro rata by all parties concerned, according to the value of each respective particular part, and this same norm shall govern the adoption of agreements by a majority vote.
The right of co-ownership in the common elements of a building may only be alienated, pignorated or attached by third parties, jointly with the part determined as particular, to which it is inseparably annexed.
If the owner of a story or part thereof, capable of utilization independently, wishes to sell it, he shall so notify, stating the price, to the other owners of the building, who shall have, with respect to outsiders, preference for acquiring the same, if within the ten days following the formal notice thereof they inform the seller of their desire to purchase.
In case of the concurrence of different bids, the sale shall be made to the person offering the highest price, and if the prices are all equal, preference shall be given to the owner of the story or part which is horizontally contiguous to the object of the sale, who may make his right effective through an ordinary action, or by exercising the right of redemption, according to the provisions of §§ 3921 and 3924 of this title. Conditions being equal, it shall be discretional with the seller to make the sale to any of the bidders.
No owner may vary substantially the purpose or structure of his story without the previous agreement of a majority of the other parties concerned.
History —Civil Code, 1930, § 330; May 13, 1951, No. 421, p. 1126.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1275a/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1275a - Validity of common pro indiviso land sale
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1275a - Validity of common pro indiviso land sale
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In order for the sale of common pro indiviso land to be valid, said sale must be conducted through a public deed which shall indicate the common pro indiviso portion or share corresponding to the buyer, the corresponding legal admonishments and the acceptance of the buyer to acquire the land in such a capacity.
History —Civil Code, 1930, added as § 330-A on Aug. 7, 1998, No. 193, § 1.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1276/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1276 - Change in common property
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1276 - Change in common property
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None of the several owners shall, without the consent of the others, make any change in the common property, though benefits for all may result therefrom.
History —Civil Code, 1930, § 331.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1277/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1277 - Decision of majority as to management
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1277 - Decision of majority as to management
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The resolution of the majority of the participants as to the management and better enjoyment of the thing held in common shall be binding on all.
A majority shall not be deemed to exist except when the resolution has been taken by the participants representing a majority of the interests which constitute the object of the common ownership.
If no majority results, or if the resolution of the majority is seriously prejudicial to the persons interested in the thing held in common, the Court of First Instance, on petition of any of the parties, shall decree what may be proper, including the appointment of an administrator.
When a part of the thing belongs privately to one or to several of the part-owners, and the remainder in common, the preceding provisions shall only apply to the part held in common.
History —Civil Code, 1930, § 332.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1278/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1278 - Ownership of parts
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1278 - Ownership of parts
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Each one of the part-owners shall have the absolute ownership of his part and that of the fruits and profits belonging thereto, and he may, therefore, sell, assign or mortgage the same, and even substitute another person in the enjoyment thereof, or lease such part, unless personal rights are involved. But the effect of the alienation or mortgage in relation to the part-owners shall be limited to the share which may be allotted to them in the division upon the termination of the common ownership, and the effect of the lease shall be to confer on the lessee during the term of the contract, the powers of the part-owner in regard to the administration and better enjoyment of the common property.
History —Civil Code, 1930, § 333.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1279/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1279 - Division of thing held in common
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1279 - Division of thing held in common
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No part owner shall be obliged to remain a part to the common ownership. Each of them may, at any time, demand the division of the thing held in common.
Nevertheless, the stipulation of keeping the thing undivided, for a stated period of time, not exceeding ten years, shall be valid. This term may be extended by a new agreement.
History —Civil Code, 1930, § 334.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1280/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1280 - When division not enforceable
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1280 - When division not enforceable
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Notwithstanding the provisions of the preceding section, the part-owners cannot compel a division of the thing held in common to be made, when by so doing they may render it unserviceable for the use for which it was intended.
History —Civil Code, 1930, § 335.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1281/
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1281 - Procedure for division
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1281 - Procedure for division
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The division of a thing held in common may be made by the interested parties or by arbitrators or friendly compromisers, appointed at the will of the part-owners.
In case it is made by arbitrators or friendly compromisers, they shall divide it into parts proportional to the rights of each part-owner, avoiding, as far as possible, payments of balances in cash.
History —Civil Code, 1930, § 336.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1282/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1282 - Concurrence or objection of creditors or assignees
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1282 - Concurrence or objection of creditors or assignees
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The creditors or assignees of the part-owners may concur in the division of the thing held in common and object to any division which may be made without their concurrence. But they cannot object to a division already made except in cases of fraud, or when made notwithstanding a formal opposition interposed to prevent it, without prejudice, however, to the rights of the creditor or assignee to maintain its validity.
History —Civil Code, 1930, § 337.
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https://law.justia.com/codes/puerto-rico/title-thirty-one/subtitle-2/part-iii/chapter-149/1283/
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PR
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Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305)›Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875)›PART III - Common Ownership of Property (§§ 1271 — 1303)›Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285)›§ 1283 - Indivisible thing
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2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART III - Common Ownership of Property (§§ 1271 — 1303) › Chapter 149 - Rights and Duties of Co-Owners (§§ 1271 — 1285) › § 1283 - Indivisible thing
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When the thing held in common is essentially indivisible, and the part-owners cannot agree that it be adjudged to one of them, he indemnifying the others, then it shall be sold and the proceeds distributed.
History —Civil Code, 1930, § 338.
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