ESTATE OF BASILIO LOPEZ MARTIN
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E X P L O R E M E N U
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Our land ownership at PR USA since 1750 of 2,116,840 acres (2,179,674 cuerdas, or 8,566,554,754 sq mt) reached a total value of $98,846,223 per acre in 2024, equal to $209,241,638,695,320 (209.2 Trillion). See comparable market.
There are other serious defects in our land system. The procedure for the adjudication of titles to real estate is most unsatisfactory. Two kinds of titles are recognized under the present system; one is called possessory title and tl1e other dominion title. A possessory title is adjudicated to any person who comes before a court of competent jurisdiction and shows that he is a squatter upon the land. Possessory title is, in fact, no title at all; it simply amounts to a record notice that a person is in possession claiming a right to the land. The best title which can be obtained under the laws of Porto Rico is that called dominion, which is nothing more than a squatter title matured by a certain number. of years of actual occupancy of the land with the payment of taxes. Anyone occupying land under these conditions may apply to a court of competent jurisdiction and obtain a decree adjudicating dominion title in the land to him; but the decree vesting the title is not final and conclusive. The title held under it may be attacked collaterally. The decree does not vest title against the government, because the latter is not a party to the proceedings. Thus, a citizen who acquires a dominion title in our courts, the best title which our present laws can afford him, must remain in the uncertainty that comes from the knowledge that his title may be attacked at any time. This should not be, for the effect is most demoralizing on the business interests of the community, which looks to the agricultural values of the island for its chief collateral in commercial transactions.
Frank Fenille, PR Attorney General, 1907
The corporation under the name of Territorial and Agricultural Bank of Puerto Rico was founded in 1869 by Messrs. Manuel Martínez (father-in-law of Jacinto López Martínez 1ro, who was Captain Villager and first Mayor of the town of Dorado by entrusts his uncle Basilio López Martín; and maternal grandfather of María Altagracia Salgado Martínez, who was the mother of Francisco López Salgado, known as "grandfather Pancho") and José Rodríguez (brother of Juana Rodríguez, who was the wife of José Justo López, who was the brother of Jacinto López Martínez 1ro). Bliss institution was established with the stolen assets owned by the Succession Basilio López Martín.
Constitution, which was fraudulently translated into public deed before the Notary Public Mauricio Guerra Mondragón y Mejías. Such assets are presumed to have passed to the founders directly from Jacinto López Martínez 1ro, since they had a close family relationship with the latter (relationship of father-in-law and brother of sister-in-law), what placed them in a preferred position to be entrusted with custody and administration of some of the assets that Jacinto 1ro held for having them stolen from his uncle Basilio since 1848. Assets, which presumably the founders were also illegally seized when Jacinto 1ro died in the year of 1863. Thus, the repetition of the history, facilitated the aforementioned founders to obtain the necessary capital to establish the institution. SPANISH STORY
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