Puerto Rico Covenants

State:
Multi-State
Control #:
US-OG-492
Format:
Word; 
Rich Text
Instant download

Description

This form provides the terms and conditions contained in an assignment shall constitute covenants running with the land, and shall be binding on, and for the benefit of assignor and assignee, and their respective successors and assigns.

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FAQ

How long does a covenant last on a property? Covenants do not expire ? they exist in perpetuity. So just because a covenant dates from the 19th century or even earlier, it does not mean it has lost its legal status.

Yes, there are US federal laws and local laws in Puerto Rico prohib- iting discrimination and harassment in employment. Local anti-discrimination laws include: ? Law No. 100 of 30 June 1959 (the General Anti-Discrimination Act), as amended in 2013 by Laws Nos.

Colorado, Illinois, Maine, Maryland, New Hampshire, Oregon, Rhode Island, Virginia, and Washington prohibit non-compete agreements unless the employee earns above a certain salary threshold. Other states, like Iowa and Kentucky, limit the use of non-competes for certain professions such as healthcare workers.

Act 80 (the Unjust Dismissal Act) regulates employment termination of employees hired for an indefinite term. Puerto Rico is not an 'employment at will' jurisdiction.

Puerto Rico Overtime Employees covered by the FLSA are entitled to overtime pay at a rate of 150 percent of their regular wage (commonly known as ?time and a half?).

Act 80 (the Unjust Dismissal Act) regulates employment termination of employees hired for an indefinite term. Puerto Rico is not an 'employment at will' jurisdiction.

Restrictive covenants are common in real estate. They mandate owners and tenants to avoid or take specific actions intended to preserve the value and enjoyment of the adjoining land. Restrictive covenants are established in a deed or a separately recorded document called a declaration of restrictive covenants.

Non-compete clauses in employment contracts are valid and enforceable in Puerto Rico under general freedom of contract principles but must comply with requirements established by the Supreme Court of Puerto Rico.

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Puerto Rico Covenants