P.R. Laws tit. 17, § 93

2019-02-20 00:00:00+00
§ 93. Dwellings for persons of moderate income—Resale

No person who acquires a dwelling in accordance with the provisions of §§ 86—94 of this title may sell or in any way alienate it without the previous consent of the Corporation during the term the latter may prescribe through regulation to that effect. In order to give its consent the Corporation shall take into consideration, among other facts, the following:

(a) That the dwelling be acquired by a family of moderate income that in good faith needs it for dwelling purposes.

(b) That the lien be of such nature as not to detract from the purposes for which the dwelling was constructed.

(c) That in case the lien consists of a mortgage, the mortgager shall be an existing financial institution that offers assurances that the dwelling will continue to be used for the purposes for which it was constructed as provided in §§ 86—94 of this title.

History —June 26, 1964, No. 82, p. 260, § 8.