Real Estate & Land Use
Puerto Rico Real Estate and Land Use Lawyers
Attorneys in GAC’s Real Estate and Land Use Practice Group handle simple and complex commercial and residential real estate transactions, including purchase and sale, leasing, condominium law, condos and timeshares, construction, title insurance, title cleanups and surveys, and the financing of such transactions. The lawyers also prepare and review related contracts, including loan documentation, mortgages, deeds of acquisition and lease options.
Puerto Rico real estate law
The law of Puerto Rico on matters regarding real estate in general and mortgages in particular is grounded on the civil law tradition historically followed under Spanish law. Due to the highly technical nature of those laws, most transactions require that deeds, contracts and other recordable documents be drafted following particular conventions in order to gain access to public registries. Thus, interrelated with all real estate transactions is Puerto Rico’s notarial law, which requires that only duly licensed attorneys who have passed a special bar exam can be notaries. Only notaries can prepare and execute public deeds for access to the filing systems of the PR Real Estate Registry.
Attorneys from the Real Estate Practice Group are also involved with REIT transactions in the island and represent lenders in commercial real estate transactions including construction and business loans, foreclosures and evictions.
The Real Estate Practice Group also represents several banks and mortgage companies in the preparation and execution of mortgage loan documents suitable for sale in the secondary market. A dedicated closing unit handles all aspects of the process, coordinating the execution of such mortgage documentation and its filing in the appropriate Registries of the Property.
Land use is another area covered by the group. Attorneys in the land use practice area represent clients in location consultations for single-family and multifamily developments, tourist projects, commercial buildings and regional shopping centers. The lawyers also address zoning issues in cases requiring changes in the zoning district, variances and amendments to the land use classification and assist clients with all aspects of development, construction and preconstruction of a project. The attorneys also have broad experience in filing appeals and/or oppositions to appeals before the Planning Board, the Regulations and Permits Administration and the Board of Appeals for Constructions and Segregations.
|Members of the Real Estate and Land Use Practice Group:
Members of the group may collaborate with members of other practices at our firm to provide comprehensive solutions for individual clients.
Attorneys at the firm appear on behalf of clients before federal and Puerto Rico courts, government agencies, and in domestic and foreign transactions. GAC’s offices are in the American International Plaza Building in the heart of Hato Rey, San Juan, Puerto Rico’s financial district. If you would like to speak with a member of the firm or have any other question, please contact the firm to arrange a consultation with an attorney with the appropriate experience.