2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5929 - Certificate of sale

(a) The Center shall deliver a sales certificate for each property or debtor taxpayer, as the case may be, to the purchaser of the transferable delinquent tax debts, upon receipt of the payment for the latter. Furthermore, at the request of a purchaser of transferable delinquent tax debts, the Center may issue and remit to such a purchaser a certificate of sale corresponding to more than one property or to more than one debtor taxpayer. Every certificate of sale shall identify the debtor taxpayer, including his or her social security number if said information appears in the records of the Center (although the validity of the certificate of sale shall not be affected if it omits the social security number of the debtor taxpayer or contains an incorrect social security number), his or her last known address and the property subject to the credits for transferred tax debts in default, the fiscal years to which these correspond, the amount subject to the fiscal lien, if any, and any other information required by the Center through regulations. The certificate of sale shall also indicate that under no circumstances shall it be understood that the sale of transferable tax debts in default constitutes a loan to the Center, the municipalities or the Government of Puerto Rico, its instrumentalities, subdivisions or agencies.
(b) The certificate of sale shall be attesting evidence of the sale of transferable tax debts in default for any legal purposes and in any judicial or administrative proceeding.
(c) The Center shall not retain any rights or obligations in relation to the credits for transferred tax debts once the sale has taken place and the certificates of sale delivered, except for the right to receive payment for the price of the transfer, including any promissory note or other obligation delivered to the Center as part of the deferred sales price, as provided by § 5923(g) of this title or any other provisions therein, or as provided by the sales contract. Except for the situations provided in §§ 5933 and 5935(d) of this title, nothing in this chapter shall be deemed to constitute a guarantee by the Center that the transferable tax debts in default shall be collectible.
(d) The Center shall establish, through regulations, the procedure to be followed for preserving and updating the copies of the certificates of sale and other documents related to the sale of transferable tax debts in default.
(e) In the case of the sale, assignment, transfer, pledge, creation of a security lien or other or disposition of the credit for a tax debt transferred by the original purchaser, or any subsequent owner thereof, said purchaser or subsequent owner shall notify the Center of said transaction as provided by the Center through regulations. The new acquirer of the credit for a transferred tax debt shall deliver the certificate of sale so acquired to the Center so that the latter may issue a new certificate of sale in the manner established in subsection (a) of this section. Notwithstanding the provisions of the Civil Code of Puerto Rico, §§ 401 et seq. of Title 19, the Commercial Transactions Act or of any other act providing the contrary, a pledge or security lien on a sales certificate shall be constituted and perfected, and shall be opposable against a third party, upon the delivery to, and continued physical possession of the sales certificate by the creditor, the secured party or to a third party authorized to act on behalf of any of them.
(f) Once the credit for the transferred tax debt, as well as the applicable interest, surcharges and penalties have been paid to the owner of the certificate of sale, he/she shall be bound to deliver said certificate to the debtor taxpayer. The debtor taxpayer shall be bound to notify the Center of said payment through the delivery of the certificate of sale and any other document required by the latter by regulations.
History —June 26, 1997, No. 21, § 11; June 30, 1998, No. 105, § 7; Aug. 12, 2000, No. 177, § 1.