Liquidation of community property

Description

• After a divorce, if there is real estate in common, it is necessary to make its liquidation or transfer.
• It is also known as "liquidation of community property" or "assignment of rights".

Steps to follow

Divorce Judgment

• Send us a copy of the divorce decree by completing the form at the bottom of this page.
• If you do not have the copy, we can request a certified copy for you. The process takes approximately 30 days.

Title Study

• We will verify the title at the Property Registry to ensure that everything is in order.

Mortgages

• The mortgage is not automatically transferred.
• You must follow the procedures indicated by your financial institution.
• Send us the instructions received from the financial institution to evaluate your case.

Document Preparation

• Based on the Judgment, we will determine if a new deed is needed or if an "Instancia" should simply be filed with the Land Registry.

Change of Ownership at CRIM

• We will file the change of ownership application at the Municipal Revenue Collection Center (CRIM).
• If a new deed is prepared, the attorney will also file a "Form Real Estate Transfer Information" with the Department of Revenue.

Costs

• They vary on a case-by-case basis and are charged at a flat rate, not on an hourly basis.
• Customers know the total cost in advance.

Online Procedures

• Being an online law firm, we work all the preparation through email.
• Customers outside of Puerto Rico save on travel and lodging expenses.

Conclusion

• At Abogado Notario Online, we take care of the entire process.