P.R. Laws tit. 4, § 2131
Notaries are hereby authorized to charge the following fees for notarial services rendered, fixed pursuant to the rate established in the following norms:
(1) Nonvaluable documents.—
(a) For the authorization of non-valuable public instruments, the notarial fees shall be fixed by agreement between the parties and the notary, but it shall never be less than one hundred and fifty dollars ($150).
(b) For the authorization of testimonies, sworn statements and authentication of signatures or affidavits, the notarial fees shall be fixed by agreement between the parties and the notary.
(2) Documents concerning valuables.— For authorization of instruments concerning valuables, the notarial fees to be received shall be in the amount which results from applying the value of the assets subject to the documented legal transaction or where a thing or amount of a determinable value is involved, in accordance to the following schedule:
(a) For the authorization of an instrument concerning valuables or where a thing or amount of a determinable value is involved, whose value does not exceed ten thousand dollars ($10,000), the notary fees fixed by this rate shall be one hundred fifty dollars ($150).
(b) For the authorization of an instrument concerning valuables or where a thing or amount of a determinable value is involved, whose value exceeds ten thousand dollars ($10,000), but does not exceed five million dollars ($5,000,000), the notary fees fixed by this rate shall be established by agreement between the parties and the notary, but it shall never be more than one percent (1%) or less than point fifty percent (0.50%) of its value, which shall never be less than two hundred fifty dollars ($250).
(c) For the authorization of an instrument concerning valuables or where a thing or amount of a determinable value is involved, whose value exceeds five million dollars ($5,000,000), the notary fees shall be the rate established in clause (b) above up to said amount, plus the notary fees established by agreement between the parties and the Notary for the excess of five million dollars ($5,000,000).
(d) For mortgage cancelations, the notarial fees shall be established by agreement between the parties and the notary, which shall never be less than point fifty percent (0.50%) of the amount established as the principal of the note secured by the mortgage to be cancelled, whose value does not exceed five million dollars ($5,000,000). If it exceeds five million dollars ($5,000,000), the notary fees shall be established by agreement between the parties and the notary. In any of the cases set forth in this subsection the amount to be paid on account of notary fess shall never be less than two hundred fifty dollars ($250).
(e) In the case of newly built housing and of refinancing in which one of the parties executes more than one public instrument in the same transaction before the same notary, the latter is hereby authorized to charge on account of notary fees corresponding to the instrument of higher value the amounts established in clauses (b) and (c) above, for all other instruments in said transaction the notary shall charge half the amount set forth in the previous clauses; provided, that the sum charged shall never be more than one percent (1%) of the public instrument of higher value.
(3) Exceptions.—
(a) In transactions involving affordable housing units, the public instruments to be executed, where the Puerto Rico Housing Financing Authority, the Puerto Rico Economic Development Bank, and the Government Development Bank for Puerto Rico intervene, as well as any other government agency or instrumentality, whether state, municipal or federal, be it directly or through subsidy programs, the rate shall be fixed by agreement between the party and the notary, but it shall never be less than point twenty-five percent (0.25%) or two hundred and fifty dollars ($250), whichever is greater, except when the enabling act or regulations that establish the government program provide otherwise. In the event that two or more public instruments are executed over the total value of the same affordable housing unit within the same transaction, it is hereby provided that the notarial fees shall never be more than one percent (1%) of the determinable value of the affordable housing unit in question. This clause refers to the financing of affordable housing units exclusively and does not apply to financing or refinancing loans secured by federal or state agencies such as those known as FHA, Reverse, Veteran loans and other similar in nature.
(4) Complementary norms.—
(a) A notary shall not charge or receive for notarial services any compensation other than that established in this chapter, be it through the reimbursement of fees, granting of discounts or privileges, or through any other method used to reduce the fees herein established. This prohibition does not include the rendering of services gratuitously when the notary deems and considers it necessary, provided it does not become a customary practice in business or a subterfuge to violate the purpose of this chapter; if the notary engages in such practice, he/she shall be sanctioned as provided in clause (c) of this subsection. The notary shall report in his/her notary activity monthly index, those public instruments in which he/she rendered services gratuitously by placing a mark in the column designated to such effect.
(b) When a notary is employed by a law firm, partnership or professional services corporation that renders notarial services, the obligation and responsibility established in the preceding paragraph shall fall on the employer who employs the notary at the time of rendering the notarial services.
(c) A notary who fails to comply with the norms established by the rate fixed in this chapter or shares the notary fees herein fixed with natural or juridical persons who are not in compliance with the provisions of this chapter shall be sanctioned by the Supreme Court of Puerto Rico by means of reprimand, fine, or temporary or permanent suspension.
(d) Any natural or juridical person, not composed of notaries, who is not authorized to exercise as a notary as provided by the Puerto Rico Notary Act that charges, receives or shares fees for notary services with a notary or instigates the same, shall be guilty of a felony in its fourth degree modality and upon conviction shall be imposed a fixed penalty of imprisonment for one (1) year, in addition to a five thousand dollar ($5,000) fine. In the case that the conviction falls on a juridical person, its certificate of incorporation shall be cancelled by the Department of State of Puerto Rico.
History —July 2, 1987, No. 75, p. 242, § 77; Aug. 9, 2008, No. 239, § 1; July 23, 2009, No. 43, § 1; Jan. 18, 2012, No. 27, § 1.