P.R. Laws tit. 31, § 1268c

2019-02-20 00:00:00+00
§ 1268c. Expansion and contraction of regimes

No timeshare plan or vacation club may be expanded or contracted with respect to property located in Puerto Rico except in accordance with the applicable provisions of the deed of dedication, § 1255b of this title and §§ 1262—1268g of this title. Any such expansion or contraction shall be deemed to have occurred after compliance with the aforesaid provisions, at the time of the recording at the Property Registry of the corresponding amendments to the deed of dedication duly executed by the developer and/or the owners as set forth in the deed of dedication.

Said amendments shall include a revised legal description of the property on which the regime is located, including the particulars of any property added to the regime, in accordance with the provisions of § 1264(1) of this title as well as description of the rights of the owners therein, including a readjustment of their respective shares in the facilities of the regime. In the case of an expansion to include new property, the aforesaid amendment shall be accompanied by the appraisal referred to in § 1264 of this title with respect to the new property and such appraisal shall be used to determine the registration fees of such amendment in the Property Registry.

The aforesaid amendment shall be filed in the section of the Property Registry where the properties affected are located and shall be accompanied by a set of plans prepared in accordance with § 1264c of this title showing the particulars of the new regime.

History —Dec. 26, 1995, No. 252, § 12-134; Jan. 5, 1999, No. 3, § 40.