The use of key words plays a big role in the practice of law. In the Spanish language, we do not use the terms “lien release” or even “title clearing” as described in another section of this site. Nonetheless, I have learned that these terms are in fact significant to the practitioner or the individuals who regularly deals in real estate transactions or issues across other areas of the World, particularly the United States of America.
In Puerto Rico, the overall practice of “lien release” is performed by a lawyer who also has to be licensed as a notary. There are categories of liens which could be released by non-lawyer. As an example, releasing a property for a lien issued by the Internal Revenue Service, can be handled by an accountant. Nonetheless, the type of lien release we mostly handle in our practice is the release of a property from a mortgage lien.
Mortgage liens fall in various categories. Originally and most commonly, releasing a property from a lien is associated with removing a mortgage lien from the Property Registry after a loan is paid-off either by the owner of the property (the borrower) or as a result of a loan refinance. Another category is that associated with a promissory note which has been lost, but the lien remains at the registry.
There are various types of liens which may encumber a property under Puerto Rico Law. We are prepared to handle these and help the parties comply with their legal or contractual demands accordingly.