P.R. Laws tit. 31, § 1268k
(1) The non-judicial public sale of the individual accommodation, the real property timeshare or vacation club right shall be held in the municipality where the timeshare or vacation club right is located on the date, time and place designated in the public sale announcement pursuant to § 1268j of this title.
(2) Any person, including the creditor, may bid at the non judicial public sale.
(3) The purchaser at the non-judicial public sale shall make payment by official bank check or cash on the same day of the sale in the amount for which the right was sold at the non-judicial public sale. The creditor or holder of the lien in question may bid its credit in lieu of an official bank check or cash, and should it be awarded the bid, the credit in question shall be extinguished.
(4) The proceeds of the non-judicial public sale shall be applied first, to the payment the costs and expenses of the public sale, second, to the payment of the indebtedness in question, interest and penalties accrued thereon and legal fees and finally, to the payment of junior liens. All liens that are senior to the foreclosed lien will not be impaired by the non-judicial public sale and the purchaser of the right in question will assume responsibility for the payment thereof.
History —Dec. 26, 1995, No. 252, added as § 13-105 on July 29, 2010, No. 106, § 10.