P.R. Laws tit. 30, § 2722
The foreclosing creditor may bid in all the auctions. Should he turn out to be the highest bidder, the amount of his loan shall be totally or partially credited to the price offered by him.
The holders of current mortgage loans and those made after the mortgage, which is being collected and foreclosed, who appear as such in the Registry certification, may also bid in all the auctions.
In such a case, they may use the amount owed to them or any part thereof in their bids. If the bid accepted is for a greater amount than the sum of the loan or loans, with preference to the forecloser, upon obtaining the bid award he must pay on the spot, in cash or by certified check, the entire amount of the mortgage loan being foreclosed, and that of any other loans made after the foreclosed loan, but with preference to his, and the surplus balance shall constitute the partial or total payment of his own loan.
Neither the marshal holding the auction, nor his assistant, nor other persons who may not acquire by purchase in accordance with the provisions of § 3773 of Title 31, may be bidders or take any interest whatsoever in said auction.
History —Mortgage Law, 1979, § 222.