Puerto Rico Forced Heirs Law – Transcript a

June 21, 2017 Leave a comment

Hello!

I hope you are doing great!

I leave you with this transcript on this very important subject!

Enjoy!

Truly yours,

Santiago Lampón

 

Hello and welcome to Puerto Rico legal blog. My name is Santiago Lampón, a real estate lawyer and notary in Puerto Rico. Puerto Rico forced heirs law. You’ve probably seen a couple, of my videos on the subject and I could probably do tens of videos more about what Puerto Rico forced heirs law has to do with assets that are located in Puerto Rico but that belong to individuals who do not reside in Puerto Rico. That is the first thing that you have to have in mind. If you are a resident of Puerto Rico, if you have made Puerto Rico your primary residence compared to anywhere else in the world, you have to, you better, it is highly recommendable that you become familiarized with Puerto Rico forced heirs law.

 

Now it is a little complicated but it is not impossible to manage. It is actually completely manageable once you know what it implies, what is involved and how you have to work with it. The other thing that you must know and it is number 2 in the list of importance, is that assets that are not located in Puerto Rico are not necessarily subject to Puerto Rico forced heirs law. There is a difference. Location, location, location in real estate, location, location. location in regards to application of law to assets, particularly fixed assets.

 

The other thing is movable assets, well, where are they ? Are they in Puerto Rico? Are they outside of Puerto Rico? The thing is that people who have made Puerto Rico their residence in comparison to people who are not permanent residents of Puerto Rico or should I just say residents of Puerto Rico should understand that there is a significant difference between having assets in Puerto Rico and not having assets in Puerto Rico and the application of Puerto Rico forced heirs law to the non application of Puerto Rico forced heirs law. For example recently and frequently I work with people who are not residents of Puerto Rico, who have assets outside of Puerto Rico, who do their state planning outside of Puerto Rico, but they have to include in that state planning the assets from Puerto Rico. I work together with a lawyer to make sure that everything is where it supposed to be, the way that it is supposed to be, and the number one resource you have is knowledge, if you know then you can control it. If you don’t know, then you are going to feel wabbely, shaky and concerned and worried. You don’t need to, just find the right information, apply to your situation and you will come out aware. Again my name is Santiago Lampón, a real estate lawyer in Puerto Rico. I am also a notary which means I also work with will and state so please if you have a question send me an email, give me a phone call and you are always invited to watch my videos or read my articles and I just hope you have a great day.

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Puerto Rico Forced Heirs Law

June 19, 2017 Leave a comment

Good morning!

I hope you had a great weekend and I wanted to wish all the fathers a happy father’s day!

I am sharing with you today a video on forced heirs that will clear up more this subject for you.

Let me know if you have any questions about it by email or put it on this blog.

Truly yours,

Santiago Lampón

Tittle Clearing in Puerto Rico – Transcript

June 7, 2017 Leave a comment
Hello to you!
I am leaving you with this transcript on how tittle clearing works in Puerto Rico and how I can help you! It is not hard, but it becomes even easier when you have the data.
Truly yours,
Santiago Lampón
Hello, my name is Santiago Lampon, I am a real estate lawyer and notary in Puerto Rico and welcome to Puerto Rico legal blog.
If you have some questions after I speak to you you can send me an email or you can drop me a phone call. I am going to talk about title clearing in Puerto Rico. Puerto Rico practice, the notary practice is quite different to that across United States but it does not mean that I cannot be done and that it cannot be understood. It is a matter of knowing the ins and outs of the system, how it works and how we make it work .
Let’s take for example , title clearing. Title clearing in Puerto Rico Obviously refers to the property registry in Puerto Rico. The difference is that the way we put documents in the property registry and the way we remove the liens is different to most of the united states. You need a notary to work on the removal of the liens. They are liens that you can remove without the help of the notary but the notary usually knows the ins and outs of the property registry and depending on the section of the registry has a direct working relationship with that register. The thing is that we know and need to know what needs to be done. The issue is how to get the lien removed, what documents you need , how to prepare them, how to file them, the rights that you need to pay. The thing is that it can be done, we just show you how it gets done . So if you have a title issue in Puerto Rico and it needs to be clear. Recoding of the title needs to be done correctly or a lien has to be removed so that the title is completely clean , we can help you. The point is that we need to know what the lien is ,why was the lien recorded, who was it recorded against because we have a lot of [Inaudible] in Puerto Rico. How do identify if that line belongs to that property , that’s the thing. So title clearing and lien removal in Puerto Rico is completely doable. If you have a question about how to do it , how to solve property foreclosing, give me a call or send me an email. Again my name is Santiago Lampon, a real estate lawyer and notary in Puerto Rico and I hope you have a great day.
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Tittle Clearing in Puerto Rico

June 5, 2017 Leave a comment

Good morning!

How are you? I hope you are doing very well and that you had a spectacular weekend.

I leave you today with this video on Tittle Clearing in Puerto Rico!
Enjoy!

Yours,

Santiago Lampón

Categories: Uncategorized

Puerto Rico Property Taxes

May 31, 2017 Leave a comment

Good morning!

How is your week going? I hope everything is great!

Puerto Rico Property Taxes, here you have more information on this wild subject, I hope it clears information for you and helps you!

Truly yours,

Santiago Lampón

Puerto Rico Property Taxes – Transcript 

Hello and welcome to Puerto Rico legal blog. My name is Santiago Lampón, a real estate lawyer and notary in Puerto Rico. Puerto Rico Property Taxes. When people hear property taxes they run away, they get scared. I understand it. Sometimes I do myself because of the way Puerto Rico property taxes work or should I say do not work. I am going to clear some of the misunderstandings in the few short minutes with you.

Number one: The records for Puerto Rico property taxes are separate, are independent from title. So you have the Puerto Rico property registry for titles and the Puerto Rico property authority or agency for property taxes. They are separate records. They are now trying to talk to each other but it is not working perfectly yet. So the number one thing that you have to understand when dealing with Puerto Rico property taxes is that what you file, or someone files on your behalf for closing at the Puerto Rico property registry they didn’t necessarily make it into the property tax agency. Or if it made it maybe it was not handled properly. There are times and they are a lot of times when they records at the property tax authority are perfect. Why? In recent years with new programs and systems that they have been establishing, is getting a lot better. But still there are some things that need to be fixed. The other thing you need to understand is that in Puerto Rico unfortunately the property tax authority or agency is not necessarily as proactive in getting things done as you are probably used to where you come from.

Take for example the state of Florida. In the state in Florida the property tax is “chuf”. The property changes values “chuf”. They are maybe a little bit slow in coming down but it is more fluent with market changes. In Puerto Rico it isn’t like that. In Puerto Rico we are using market values for many, many years. You still, I like the way it is done in the United States, people really pay attention to the property taxes, that the information is correct, that the information is properly recorded, that your name is there, that all accounts are up to date and that is the way it should be done. That is the way I encourage my clients to do it, that is the way we handle it when we handle closings. So if you have issues with property taxes in Puerto Rico I understand, you must be concerned. I would be too. I just want to give you a little bit of hope and understanding that it is manageable. Again thank you for watching this video. Again my name is Santiago Lampón; I am a real estate lawyer and notary in Puerto Rico. If you have any questions, send me an email, give me a phone call and I hope you have a great day.

Puerto Rico Property Taxes

May 29, 2017 Leave a comment

Good morning!

I hope you have a tremendous week!

I wanted to share this new video with you, with more information on Puerto Rico Property taxes. Watch it and let me know if you have any questions or if you need any help.

Truly yours,

Santiago Lampón

Fundamentals of a Real Estate Closing in Puerto Rico

May 24, 2017 Leave a comment

Good morning!

Here is the transcript for my newest video so you can have it!

I hope you enjoy it and find it very useful and clears up the fundamentals in Real Estate Closing.

Continue to have an amazing week!

Very truly yours,

Santiago Lampón

 

Fundamentals of a Real Estate Closing in Puerto Rico- Transcript 

 

Hello my name is Santiago Lampón and I am a notary and a lawyer in Puerto Rico. I work in real estate. I’m going to discuss briefly as best as I can in a short few minutes the fundamentals of a real estate closing in Puerto Rico. Now, Puerto Rico, a lot of people don’t know or are not aware that Puerto Rico was for over 500 years; Puerto Rico has been a colony. I am going to say under control or influence of other countries. Everything started with Spain. So Puerto Rico legal traditions come from Spain. As you probably know, Spanish is our main language, our number one language.

 

The reason I state this is because the practice of real estate in Puerto Rico is highly influenced if not totally based on Spanish law. So when we practice real estate in Puerto Rico we have a different point of view or different approach on how real estate transactions are done. When you compare it to how it is done in the United States, how they are done in Canada, how they are done in other places etc. For example: Latin American. So it is fundamentally important that you understand that difference. Why? Because it opens the door to understanding that you are going to have to familiarize yourself with something new. Of Course that is part of my job, familiarize you with that which is new for you, which is not new for me.

 

The other thing, which is also fundamental, is that you understand that even though the system is different the results are exactly the same, recordable, marketable, clean, clear title. What I like about our system is that it works really, really, it works. Let me tell you one of the things I do. All of the documents that we prepare for our real estate closings when the person is coming from the United States or Canada or elsewhere, we do them in their language, we do them in English. Because even though it is Spanish, our main language is Spanish, the system tolerates and welcomes documents in English. So why not prepare them in English. You see? The other thing is that though we have formats for documents which are significantly difficult to what you may be used to across the United States and Canada again, when you look at the document and you study it and we take you through the document and we show you the different sections, you start going ah. When you are done you really understand the transaction. Then you become very happy. Again my name is Santiago Lampón, I am a real estate lawyer and notary in Puerto Rico. Send me an email, give me a phone call, if you have any questions and I hope you have a great day.

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