Is it considered an injustice to reinvest a partner's money in another property to reduce the expected profits, in avoidance of potential tax problems, despite the original intention of the partnership being for a different property?
It is not permissible to stipulate that one of the partners will not incur a loss or to guarantee their capital. Rather, the loss is proportionate to each partner's capital; otherwise, the partnership becomes invalid. A partner is liable for any damage or loss to their partner's capital if it was due to their transgression or negligence. It is not permissible to expel a partner without their knowledge or to sell the apartment to a third party. Furthermore, an agent is not permitted to sell the entrusted item to themselves without the permission of their principal. Transactions between partners must be based on honesty and and truthfulness.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 17122
- 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