June marks the commencement of a new year for government purposes. Since property taxes in Puerto Rico are managed by a government agency, June marks a new year for them as well. When property taxes are due, payments are divided in two 6 months’ tax periods, with June marking the start of the first… Read more »
A NEW SYSTEM FOR THE PUERTO RICO REGISTRY
Management over the Puerto Rico Property Registry (“the Registry”) falls under the Puerto Rico Department of Justice. While the notary practice is overseen by the Puerto Rico Supreme Court, the actual recording of real estate transactions is a key responsibility of the Puerto Rico Attorney General’s office. The Registry has been undergoing a major overhaul… Read more »
Mortgage Lien Releases in Puerto Rico
A lien, including a mortgage lien, is an arrangement where one party cedes equity or a stake on a piece of property in exchange for a loan and only regains full control of said property back once their debt has been paid in full. Mortgages aren’t commonly perceived as a lien, but in essence that’s… Read more »
THE NEED FOR A PUERTO RICO LICENSED LAWYER
Though I have addressed this subject before, a recent situation creates within me the understanding that I have not said this enough times. Hence, here it goes again: ANYONE INVOLVED IN A REAL ESTATE TRANSACTION IN PUERTO RICO MUST HIRE A REAL ESTATE LAWYER LICENSED TO PRACTICE IN PUERTO RICO. It is unfortunate… Read more »
Inheritance Laws That Apply in Puerto Rico
Ahh Puerto Rico, you are a beautiful land that is known for your sandy shores, cool breezes and an easy-living way of life. That being said, it’s easy to understand why so many people flock to settle down and raise families in Puerto Rico. Unfortunately, we all know that we are cursed with mortality –… Read more »
Puerto Rico Tax Incentives You Should Know
It’s not like most people need more reasons to move to Puerto Rico. With beautiful beaches, warm waters, lush foliage, temperate year-round weather conditions, and friendly residents, there’s a lot to love about this Caribbean island nation. It gets even better, though. For Americans (and other foreigners) interested in uprooting their lives and taking up… Read more »
Factors to Consider When Purchasing Property in Puerto Rico
You don’t have to look too hard to find reasons why purchasing a vacation home or even a primary residence in Puerto Rico is a great idea. This island nation offers up the beautiful beaches, abundant greenery, and balmy temperatures (around 80 degrees Fahrenheit year-round) that one would expect from a tropical locale. However, there… Read more »
Common Puerto Rican Inheritance Law Questions
Puerto Rico is a beautiful Caribbean island that boasts a tropical climate, lush vegetation, and a rich history and culture. It’s no surprise, then, that people from all over the world not only want to visit, but choose to purchase property in Puerto Rico, either as a primary residence or for vacation purposes. But what… Read more »
How Act 20 and 22 Can Effect You
With Puerto Rico’s Act 20 and 22, growth and opportunity for businesses and investors is on the rise. Though the island’s economy has experienced some setbacks in the recent history, new provisions, such as Act 20 and 22, have begun to return Puerto Rico into a thriving area for commerce. Continue reading to see how… Read more »
Title Clearing services delivered by our firm are uniquely tailored to the specifics of the Puerto Rico Real Estate system.
Puerto Rico was a Spanish colony for over 400 years, which accounts for Spanish being our main language and our customs significantly mirroring those followed across many areas of Spain. As an additional note, since most of the Latin American countries were likewise Spanish colonies for hundreds of years, travelers find architectural and cultural… Read more »