To whom is the value of real estate paid, knowing that a portion of it has already been paid to the original owner? Is it permissible to demand the principal amount of capital from the executive director who disposed of the company without the shareholders' consent? What is the solution if he refuses to settle? And does giving the money to an intermediary clear one's responsibility before the original owner of the money?
For disputes involving company losses, it is advisable to resort to courts or arbitration by scholars, because the CEO is considered an agent for the shareholders and is liable for losses if he exceeds the limits of his agency.
As for purchasing real estate, if the sale is valid, the price must be paid to its owner. Scholars have differed on the validity of a sale if the term is unspecified: The majority (Hanafis, Malikis, Shafi'is, and one opinion among Hanbalis) consider the contract invalid due to the invalidity of the term. The Hanbalis consider the term invalid but the sale valid, citing the of Barirah as evidence.
If the term is known, the sale is valid. It is permissible to transfer the real estate owner's debt to the company, subject to the conditions of a hawala (debt transfer).
The buyer's obligation is not discharged by paying the money to the intermediary unless the money actually reaches the real estate owner.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Original fatwa ID
- 99092
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
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