Banco Popular de P.R., 662 F.3d at 117-121. The existence and extent of an entity’s interest in property is dictated by local law. Soto-Rios v. Banco Popular de P.R., 662 F.3d at 117. A mortgage is a hen and a “lien” is defined in the Bankruptcy Code as a “charge against or interest in property to secure payment of a debt”. 11 U.S.C. § 101(37). Puerto Rico Mortgage Law follows that trend applying the “hen theory”, meaning that “the mortgage is a mere security for the debt, creating a hen interest without divesting the mortgagor of legal title during the period of the debt repayment”. Soto-Rios v. Banco Popular de P.R., 662 F.3d at 118. Also see Article 155 of Puerto Rico’s Mortgage Law, 30 L.P.R.A. § 2551; Liechty v. Descartes Sauri, 9 P.R. Offic. Trans. 660, 109 P.R. Dec. 496 (1980) (<HOLDING>). BPPR argues that it acquired a pre-petition
holding that a mortgage encompasses a property right holding that the note and the mortgage must coexist to give the mortgage validity holding that a mortgagee could enforce mortgage covenants requiring the mortgagors to keep the property free of encumbrances even after it foreclosed by advertisement and purchased the property for the full amount of the mortgage debt because the mortgage covenants concerned title to the mortgaged property rather than repayment of the debt holding that a mortgage or modification of a mortgage is not a good or a service under the dtpa holding that foreclosure of prior mortgage extinguished second mortgage