Is Zakat obligatory on a plot of land that was received in lieu of a debt from someone in financial hardship, knowing that its value does not exceed half the value of the original amount?

The plot of land that was acquired through reconciliation does not require Zakat unless it was owned with the intention of trade. In that case, its value should be calculated for Zakat purposes, and one-quarter of one-tenth (2.5%) should be given when a full lunar year has passed. Its zakat year follows the year of the original asset with which it was acquired, if it was intended for trade. The money that was owed by the man is considered a debt upon him, and the ruling on its Zakat is the same as that for debts owed by others; the majority of scholars hold that Zakat should be paid for past years once it is received.