Is zakat related to the asset itself (ʿayn) or to the individual's obligation (dhimmah)?

Zakat is tied to the asset itself (al-ayn) according to the madhhabs of Abu Hanifa and Malik. Ash-Shafi'i and Ahmad adopted this view in one of their two opinions. They cite as evidence the Almighty's saying, "And those in whose wealth is a known right" (Quran 70:24), and "For that which is watered by the sky, one-tenth (al-ʿushr) is due," and "And in rikaz (treasure troves), one-fifth (al-khumus) is due." All of these verses contain the preposition "fi" (in), which indicates ظرفية ( ظرفية - ظرفية الظرفية, the concept of being contained within or belonging to). The impact of this difference of opinion becomes apparent when someone owns a nisab (minimum taxable amount) and two years pass without paying zakat. According to the view that zakat is tied to the asset itself, they would pay zakat for only one year. However, according to the view that it is tied to the individual's liability (al-dhimma), they would pay zakat for both years.