P.R. Laws tit. 4, § 1541
In addition to the power to make purchases recognized in § 1524(i) of this title, the Corporation is hereby authorized to sell or otherwise dispose of any real property, chattels, or mixed property, or any interest thereon which, in the Corporation’s judgement, is no longer necessary or useful for its business or its other purposes.
Any transaction made by the Corporation under this section shall be made, taking into account the public end that is obtained from said transaction. Under no circumstances may real property be disposed of without first being appraised by appraisers of the Government of the Commonwealth of Puerto Rico on the worth of the real property to be sold. In the case of the sale of chattels, the authorization of the Governor of Puerto Rico is required after considering the recommendations of the Board of Advisors. Those real properties or chattels that have been transferred to it or assigned free of charge or at a price below its market value by any agency, corporation or instrumentality of the Federal Government or the Puerto Rico Government or its municipalities, as well as by private for profit or nonprofit persons or entities, shall be used for the activities and programs that are established pursuant to this chapter and disposal of these propertied shall only be made pursuant to the provisions of this section and with the prior authorization of the person or entity that made the transfer or assignment.
History —Aug. 6, 1991, No. 47, § 22, eff. 30 days after Aug. 6, 1991.