I plan to open a franchise location in Puerto Rico. What do I need to know about the Island’s real estate laws?
Puerto Rico’s real estate law is based on Spanish civil law tradition and differs from many other jurisdictions. Strict conditions need to be followed before a transaction can be recorded in the public registries. Deeds for both residential and commercial real estate must be prepared by a public notary. In Puerto Rico, only licensed attorneys can become notaries, and an attorney’s involvement is necessary to finalize any real estate transaction. Estrella, LLC has decades of experience in handling real estate transactions for U.S. and international clients seeking to do business in Puerto Rico, and we routinely ease new clients through the process.
When opening a business location on the Island, companies also must consider Puerto Rico’s zoning laws before purchasing a property for commercial purposes. The attorneys at Estrella, LLC can determine whether your business will fall within the zoning restrictions and help get your business established on the Island.