P.R. Laws tit. 31, § 2315

2019-02-20 00:00:00+00
§ 2315. Investment of funds in charitable works

A provision imposing upon an heir the obligation of periodically investing specified sums in charitable works, as dowries for poor maidens, pensions for students, or in favor of the poor, or for any charitable institution, or of public instruction, shall be valid under the following conditions:

If the charge is imposed on real property and is temporary, the heir or heirs may dispose of the encumbered estate, the lien not being removed until its record is canceled.

If the charge is perpetual, the heir may capitalize it and invest the capital at interest in a first and sufficient mortgage.

The funding and investment of the principal shall be made with the intervention of the Governor of Puerto Rico, and after hearing the Secretary of Justice.

In any case, if the testator should not have established an order for the administration and application of the legacy for charity, the proper administrative authority, according to law, shall do it.

History —Civil Code, 1930, § 717;.