Is zakat obligatory on land inherited from a real estate contribution, which was received as returns instead of cash profits? And how is it paid? And is it permissible to postpone zakat on it until it is sold?
To determine the ruling on the of the shares you inherited, their type must be identified. If they are shares in fixed assets that generate annual or monthly profits, there is no zakat on the profits unless a year has passed over them while they constitute a . As for the lands you received in exchange for them, there is no zakat on them unless you intended to trade with them when you acquired them.
However, if the shares are commercial and intended for trading, then zakat is due on their principal and profits when a year has passed over them, as well as on the goods received in exchange for them. If zakat becomes due and immediate funds are not available to pay it, and selling the land would result in a loss, it is permissible to delay it until you are able to pay it without hardship.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/71139
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 71139
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy