Q: Father selling property to son in Puerto Rico
My father is from PR and bought land for $36k. I have two sisters but he has decided to sell the land to me for $20k. Will this be a legal transaction as I know PR has some different laws when it comes to family and property rights
A: Unless an economically valid reason is declared in the sales deed, the sales transaction will probably be seen by the Puerto Rico Public Registry as a simulated donation, given that your father is selling you the property below value. The transaction may be rejected by the Public Registry for insufficient stamps and tariffs if the deed is based upon a sales value that is less than the Registry value. They may also reject the "sales" transaction if the deed is not submitted alongside a donation tax form issued by the Puerto Rico Treasury Department. Plus, should your dad die within the following 10 years after the sale, said transaction must be brought to tally with his estate, as a (at least, partial) donation, to determine how much would be owed to the other heirs (your sisters).
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