Puerto Rico State Law.?

Does anyone know that in PR we do not have title company to help draw up morgtages etc... Now how do I do flipping, assignments an so on. HELP!!!

Comments(3)

  • rptracy22nd March, 2005

    Thanks for responding,
    If I am reading yopu correctly, you are saying that I DO need a primary insurance policy as well as builders risk?
    Thanks,
    R

  • norrist22nd March, 2005

    Negative. The rehab contract will suffice for the property and the liability...

    Tim

  • norrist22nd March, 2005

    Be wary, because most insurance contracts have vacancy/occupancy restrictions that could diminish and even void a claim. Mis-stating the facts could potentially be considered fraud, as well. There are carriers, such as those mentioned, that insure the rehab project properly...

    Best regards,

    Tim

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