P.R. Laws tit. 23, § 6350
(a) Lessees who lease personal property to exempt businesses are hereby released from the requirement of holding a personal property leasing license as defined by § 996 et seq. of Title 10, known as the “Personal Property Leasing Institutions Act”.
(b) Exemption from the collection of fees and tariffs on public or private instruments.— Any deed, petition, or judicial document, whether public or private, related to the registration, recording, release, restriction, constitution, modification, extension, rectification, limitation, creation, or renovation of any real or contractual right with access to the Property Registry and which pertains to real property covered under this chapter, shall enjoy a ninety percent (90%) exemption from the payment of: (i) internal revenue, legal aid, or any other stamps required by law or regulation for its execution, issue of any certified copy, whether partial or total, its submittal, registration, and any other operations at the Property Registry; and (ii) tariffs, levies, taxes, and fees for its submittal, registration and any other operations at the Property Registry. The aforementioned exemption is subject to the previous approval of the Director, to be evidenced by a certification issued by the Director to that effect. A certified copy of such certification shall be submitted to the notary public, Registrar, court, or other government entity before which the benefits of this exemption are to be claimed and the same shall be attached to any document to be submitted at the Property Registry. Such persons and entities are hereby authorized to rely on such certification, which shall be presumed for all legal purposes to be correct and final.
The term “real or contractual right with access to the Property Registry”, as used in the above paragraph, includes all real or personal rights that as an exception have access to the Property Registry, recognized at present or that may be recognized in the future, including, but not limited in any way to:
(1) Legal, equity, appurtenant easements, or easement in gross;
(2) constitution of horizontal property regimes, timeshares, or vacation clubs, or condo hotels;
(3) surface and building rights, and any other building record or work completion certification whereby the registration of a building or improvement is requested;
(4) leases;
(5) mortgages;
(6) sales;
(7) exchanges;
(8) gifts;
(9) preferential right to repurchase, right of redemption, and ground rent;
(10) private waters;
(11) administrative grants;
(12) call option, and
(13) restrictions on use.
History —July 10, 2010, No. 74, § 11.