P.R. Laws tit. 31, § 1268d
Any two (2) or more timeshare or vacation club regimes, as provided in their corresponding deeds of dedication, may merge or be consolidated into a single regime pursuant to the terms of a deed of merger of regimes to be executed by the parties having such authority under the corresponding deeds of dedication of the regimes subject of such merger (hereinafter the “deed of merger”). Unless the deed of merger otherwise provides, the regime resulting from such merger or consolidation shall be, for all purposes, the legal successor of all of the preexisting regimes and the operations and activities of all associations of the preexisting regimes, if any, shall be merged or consolidated into a single regime which shall hold all powers, rights, obligations, assets and liabilities of the preexisting associations.
The deed of merger shall also provide for the readjustment of the shares among the accommodations, timeshares and vacation club rights of the resultant regime.
The aforesaid deed of merger shall constitute an amendment to the deeds of dedication of all the regimes involved in said merger which shall comply with the provisions of and be recorded as provided in § 1268c of this title. The maximum recording fee for the aforegoing operation shall be five hundred dollars ($500.00) or such higher amount as the Company may from time to time establish by regulation.
History —Dec. 26, 1995, No. 252, § 12-135; Jan. 5, 1999, No. 3, § 41.