Puerto Rico Certificate of Trust for Mortgage

State:
Multi-State
Control #:
US-01183BG-1
Format:
Word; 
Rich Text
Instant download

Description

A certificate of trust is a shortened version of a trust that verifies the trust's existence, explains the powers given to the trustee, and identifies the successor trustee(s).
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FAQ

Attention all property owners in Puerto Rico! Don't forget that your property tax bills are due at the end of this month, January 2023. As a reminder, property taxes in Puerto Rico are paid twice a year, with the first installment due at the end of June and the second at the end of January.

By visiting the Land Registry, you can verify who owns it and if the property has any charges or encumbrances.

Notary Law is very important because unlike many places in the U.S., Puerto Rico uses notary attorneys to execute all deeds that transfer property. All public documents, affidavit, and sworn statements must be drafted by and signed by a notary attorney.

'Express trusts have been a part of the law of Puerto Rico since enactment of §§ 1-41 of the Act of April 23, 1928, No. 41, page 294.

Having the right Real Estate lawyer in Puerto Rico will help you maneuver the regulations and requirements with greater ease and will allow you to move into your island home faster.

In PR, only a notary attorney (unique position for PR attorney) who originally recorded the document(s) will have the originals and can provide copies to interested parties at an additional fee. The attorney typically charges anywhere from $25.00 to $50.00.

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Puerto Rico Certificate of Trust for Mortgage