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The question

What is the zakat nisab on a deceased father's estate, and what is the period for which zakat is due, given that he left a bank deposit, rented properties, and land?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

We ask Allah to have mercy on your father. Zakat is calculated based on the Hijri year. Regarding your question:

Firstly: The money deposited in the bank is subject to Zakat because it is productive wealth that has reached the Nisab (minimum threshold). Its amount is a quarter of a tenth (2.5%) for each Hijri year in which your father did not pay Zakat, because Zakat is not forfeited by the passage of time.

Secondly: Apartments and shops intended for personal use (not for trade) are not subject to Zakat, based on the Prophet's (peace be upon him) saying: "There is no Sadaqa (Zakat) on a man's slave or his horse." Zakat becomes due on the rent received from leased properties, if it reaches the Nisab and a Hawl (one lunar year) passes over it.

Thirdly: If your father bought this land with the intention of trading, it is considered a trade commodity, and Zakat is due on its value at the end of each year, amounting to a quarter of a tenth (2.5%). You are obligated to pay Zakat for the years in which your father did not pay it. However, if it came into his possession through means other than a trade contract (such as inheritance), or if he bought it without the intention of trading, then there is no Zakat on it.

Summarized from the full answer at Ftawy · imported

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Ftawy
Original fatwa ID
99248
Imported
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Source text, unreviewed
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