P.R. Laws tit. 30, § 2615
A mortgage deed to guarantee titles conveyable by endorsement or to the bearer shall consign, in addition to data usually included in all mortgage loans, those regarding the number and value of the titles issued, their corresponding serial numbers, the date or dates issued, the terms and manner in which they shall be paid off and any other data that may serve to determine the conditions of said titles; and when they are to the bearer, it shall be expressly shown that the mortgage is constituted in favor of their present or future holders. Therefore, the date and number of the deed and the authorizing notary must also appear in the titles issued.
In the mortgage deeds originated to guarantee title to the bearer and in mortgages to guarantee titles conveyable by endorsement to a natural or juridical person, the appearance of the natural or juridical person to whom the same are issued shall not be necessary. The provisions of § 2605 of this title shall not be applicable to these mortgages.
History —Mortgage Law, 1979, § 196; June 19, 2008, No. 95, § 1.