Legal Question in Real Estate Law in Puerto Rico
Change of ownership name on a property deed
My parents both own a home that was bought by my mother, with her money, but the deed & mortgage is in both in their names. My mothher is the one that works and pays the mortgage. My father has an older son from a previous relation. If something were to happen to either of my parents, uder P.R. law his son would be entitled to a part of the house.
Is there a way to legally change the house to only my mother's name. My father is willing to sign any of his rights over this house to my mother, since he understands that is only fair that only my mother's children should have any rights over this property if something were to happen to both, or either of them. Please let me know if a change of property ownership can be done as long as both owners agree?
2 Answers from Attorneys
Re: Change of ownership name on a property deed
The answer to your question depends on the content of the acquisition deed. If the deed does not specify that your mother contributed the whole amount of the initial acquisition, then it is to be corrected through an additional deed. However, the ownership of the house will have to be apportioned according to the amount initially paid, minus the principal of the mortgage loan paid with the proceeds from your mother's work. Unless your parents entered a pre-nuptial agreement, these monies will be property of the marital community and as so your father is entitled to half of the house that was paid with monies from the marital community. If your father died and if you there were four children, your half-borther would be entitled to one third (legal entitlement) of one-fourth (4 children) of one-half (marital community) of the marital community property on the house. That entitlement is legal; all agreements to renounce, sell, or exchange it are void until such time as your father dies; and no marital agreement may be entered to allow your father to waive the right. It is best if your father gave a will limiting your half brother's participation to only one-third of his estate. If he dies and no will is given, then your half brother would be entitled to participate in two thirds of your father's estate
Re: Change of ownership name on a property deed
If your parents where married in Puerto Rico, this in not possible. She has a credit in the amount she personally invested in the property, but if the property has been paid for by the conjugal society, then the property belongs to both. When and if he dies, then his 50% participation, after deducting your mother's initial investment, would be divided among his brethen. He can testate leaving your mother up to 1/3 of his estate, and another 1/3 to one or some of the child(ren) whom he selects to improve; there is only a 1/3 limitation that has to be divided among all children
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