When is Zakat due from one who owns a house or is a partner in a house?

A home designated for personal dwelling is not subject to Zakat (definition). However, if a home is designated for rent, Zakat is obligatory on its rental income if it reaches the نصاب (minimum threshold) and a hawl (lunar year) has passed. If the home is designated for trade, its Zakat becomes obligatory by assessing its value when a hawl has passed on the capital used to purchase it, and a quarter of one-tenth of its value is to be given as Zakat annually until it is sold. If the home is jointly owned, each partner is to pay Zakat on their share when Zakat becomes obligatory.