P.R. Laws tit. 28, § 271

2019-02-20 00:00:00+00
§ 271. Acquisition of property of corporations possessing more than 500 acres—Vesting of title; compensation

As soon as said declaration of taking and delivery is filed and the deposit is made in the court, for the benefit and use of the natural or artificial person or persons entitled thereto, of the amount estimated as compensation and specified in said declaration, title to the said property in fee simple absolute, or such less estate or interest therein as is specified in said declaration, shall vest in the Land Authority or in the Commonwealth of Puerto Rico, as the case may be, and said property shall be deemed to be expropriated and acquired for the use of the Land Authority or of the Commonwealth of Puerto Rico, and the right to just compensation for the same shall vest in the person or persons entitled thereto; and said compensation shall be ascertained and awarded in said proceeding and established by judgment therein, and the said judgment shall include, as part of the just compensation awarded, interest at the rate of [six] per cent (6%) per annum on the amount finally awarded as the value of the property as of the date of taking, from said date to the date of payment; but interest shall not be allowed on so much thereof as shall have been deposited and paid into the court. No sum so deposited and paid into the court shall be subject to any charge for commission, deposit, or custody.

History —Apr. 12, 1941, No. 26, p. 388, § 17, eff. 90 days after Apr. 12, 1941.