P.R. Laws tit. 5, § 4591
The “Member-Owner Cooperative Housing Regime”, which has been especially designed for housing cooperatives, is hereby created in order to make feasible for members to own individual housing units in a building or real property subject to said regime pursuant to the criteria which shall be established hereinbelow. In this regime, in which the common elements shall always be the exclusive property of the cooperative, the member designated as member-owner of a housing unit, shall be entitled to the benefits of his/her housing unit and the common elements, provided that he/she does not infringe upon the right of the other member-owners to the benefits of their respective housing units and that he/she complies with the rules and bylaws of the cooperative and the provisions of this chapter. Membership shall be an essential requirement to be able to own a housing unit under this regime. Only natural persons may be member-owner under this regime. Every owner shall acknowledge that the exercise of his/her ownership rights is subject to the rules of peaceful coexistence and respect for the rights of others. In the exercise and assertion of their rights, the owners shall conduct themselves according to the principles of good faith, the prohibition on going against his/her own acts and the doctrine on abuse of rights, as well as the demands of community living in a cooperative. In order to preserve the status of cooperative of the property, the cooperative shall always have full ownership rights over all the common areas and elements of general use, designated as common elements of the property, and any agreement otherwise shall be null and void.
History —Sept. 1, 2004, No. 239, § 35A.1.