The Registrars of the Property Registry are hereby directed to recognize as transferred all the real properties belonging to the Office or the extinct Urban Renewal and Housing Corporation of Puerto Rico, to the Department of Housing and its attached agencies.
All real property that on the effective date of this act appears registered in the Property Registry in the name of the Office or the extinct Urban Renewal and Housing Corporation of Puerto Rico, shall be registered in the name of the Department of Housing, present holder of said property, or its attached agencies. The application for the registration of said property shall be completed by presenting a certificate in the Property Registry. This certificate shall consist of the registered description of the property, the text of the registration of the property, a statement of the present registered titleholder of the property, application for its registration in the name of the Department of Housing or its attached agencies, and the value of the transaction. The certificate shall be signed by the Secretary of Housing or the official authorized by him/her. Except as provided in §§ 27aa—27jj of this title, it shall not be necessary to perform any other transaction or present any deed or public document whatsoever in the Puerto Rico Property Registry for the recognition and registration of the assets in the name of the Department of Housing and its attached agencies.
The above registration shall be exempted from the payment of any type of fees prescribed for the registration of documents and other operations in the Property Registry.
Those cases pending adjudication before the courts of justice of Puerto Rico shall be excluded from the provisions of this section.
History —June 30, 1998, No. 106, § 2; May 21, 1999, No. 121, § 1, retroactive to June 30, 1998.