P.R. Laws tit. 28, § 406

2019-02-20 00:00:00+00
§ 406. Void contracts; agricultural partnerships

Any conveyance of land by an [juridical] person as this term is defined in §§ 241 et seq. of this title, executed after this act takes effect, for the purpose of evading the provisions and purposes hereof, and all contracts for extension of time executed by agricultural partnerships holding over five hundred (500) acres of land after this act takes effect, shall be null and void, without need of judicial declaration to that effect; Provided, however, That in the case of agricultural partnerships holding over five hundred (500) acres of land, against which judgment by consent has been entered by the Supreme Court of Puerto Rico in proceedings instituted by the Commonwealth of Puerto Rico for their dissolution, and which, by reason of such judgment by consent, may have entered into negotiations with the Land Authority of Puerto Rico for the sale of their properties to said governmental agency, such partnerships may, with the consent of the Land Authority of Puerto Rico, extend their partnership contract for a term which in no case shall exceed two (2) years. The constitution, subsequent to the effective date of this act, of new agricultural partnerships holding land in excess of five hundred (500) acres shall be null without intervention of judicial declaration therefor.

History —Apr. 12, 1941, No. 26, p. 388, § 62; May 11, 1942, No. 197, p. 996, § 15; May 15, 1947, No. 482, p. 1090.