Real estate in Puerto Rico

21 of 20 May to authorize developments and communities to control vehicular access for cars and public use of their residential streets, with the main purpose of providing citizens an additional tool for fighting crime and thus ensure their active cooperation in the fight against crime.

It includes Municipality, Town, Map, Apple, Parcel, Tenant and landlord class or structure.

It regulates the exercise of the profession of real estate broker in Puerto Rico and creates the Examining Board of Realtors.

It also regulates transactions on the island by companies engaged in the sale of real estate located outside of Puerto Rico.

The zoning purpose of empowering market growth and urban development is a governmental power established under Executive order in conjunction with the Legislative and Judicial branches of Puerto Rico.

Since the late 1900s, major townships have been taking over that role under their own jurisdiction; there is no compensation for any restrictions or limitations that zoning imposes on properties.

On June 29, 2010, the Governor of Puerto Rico signed a bill transferring thirty (30) installations to municipalities including postmodern art space, an emphasis on security, and Head Start centers with contemporary health amenities.

According to Luis Fortuño, the municipalities receiving the properties were Barceloneta, Caguas, Cidra, Comerío, Guayama, Gurabo, Humacao, Juncos, Lajas, Lares, Morovis, Naguabo, Peñuelas, Ponce, Salinas, San Lorenzo, San Sebastián, Yabucoa and Yauco.

[3] During the month of August 2010, Luis Fortuño implemented a real estate / market plan (HS 2011) to reduce a large inventory of 20,000 unsold new homes.