Q: What is the purpose of the 15% retention (Hacienda) & what happens with it? Would I get that back?
You and your siblings must appear for the signing of the sales deed, either in person or by virtue of a power of attorney, to subscribe the sale. For each of you who resides outside Puerto Rico, our Tax Code requires that a 15% retention be made at the point of origin (which would be upon the signing of the sales deed), and this amount must be consigned in Hacienda.
A: That is a requirement of the tax law in that location. https://www.discoverpuertorico.com/industry/download/588201-discover-puerto-rico-form-480-2017.pdf
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