P.R. Laws tit. 30, § 2574
Unless there is an agreement to the contrary, provided the payment of a credit secured by a mortgage is divided into several due dates, and if endorsable bearer titles have been issued, and when two or more mortgages have been constituted on a property or right in the same deed without establishing any priority, it shall be understood that none of said due dates or mortgages has preference over the others, respectively; and all shall enjoy equal rank and legal status, for the purposes of this subtitle. In the event the encumbered properties are sold judicially, and the price obtained in the auction does not cover the total of all the payments or mortgages, this price shall be prorated among the respective creditors in proportion to each one’s interest, and if any of the due dates or mortgages has not expired and the purchaser of the property or right does not wish to consign the part of the price that is in order, acquiring the property or right with the lien, it must so be recorded in the Registry, by virtue of a judicial order that at the same time shall specify the reduction made in the proceeds from the loans, in accordance with what was mentioned before.
History —Mortgage Law, 1979, § 178.