P.R. Laws tit. 30, § 2466

2019-02-20 00:00:00+00
§ 2466. Cautionary notice—Cancellation in order

The cancellation of a cautionary notice shall be in order when:

First.— The verdict in an unappealable judgment favors the defendant in the cases and assumptions referred to in the first paragraph of § 2401 of this title.

Second.— A court orders the lifting of an attachment, seizure, injunction against alienation, or annotation or complaint. If the property or right subject to notation is alienated or awarded in payment, the cancellation shall be a result of the registration in the name of the acquirer or the successful bidder.

Third.— A declaration of insolvency or bankruptcy is unfounded or dismissed.

Fourth.— The court orders the final dismissal of the annotated complaint for any reason.

Fifth.— The person in whose favor the notice was made waives it or the secured right by public document.

Sixth.— When the suit, filed for the purpose of obtaining some of the resolutions indicated in number 6th of § 2201 of this title, is dismissed by an unappealable judgment.

Seventh.— When a notice becomes a final registration in favor of the same person in whose behalf it was entered, or in behalf of his successor, either without the request of the parties or by request of a party.

Eighth.— When the legatee claims his inheritance.

Ninth.— When the financial backer of interim financing has been paid.

History —Mortgage Law, 1979, § 142; June 14, 1980, No. 143, p. 535.