There are numerous legal relationships that will be affected by this change.
As an example:
The 5th transitory provision, entitled “Prescription regime applicable to existing relationships,” says: “The prescription time of personal actions that do not have a special prescription term, born before the entry into force of this law, is shall be governed by the provisions of article 1939 of the Civil Code”.
For its part, Article 1939 of the Civil Code, states that “The prescription started before the publication of this Code shall be governed by the laws prior to it; but if, since it was put into observance, all the time required for the prescription has elapsed, it will have its effect, even if these previous laws require a longer period of time”.
The interpretation of the transitional regime is generating debate. However, for practical purposes, it seems sensible to be advised and keep in mind that:
Juan Enrique Montenegro - Balms Abogados