Is zakat obligatory on the value of a commercial land that was acquired by purchasing the shares of the inheriting siblings, and is it obligatory on the value of residential registrations that were purchased for savings instead of cash, knowing that there is an already existing residential house?
is obligatory on the shares of brothers purchased with the intention of trade, by appraising them each year and giving out one-quarter of one-tenth (2.5%). As for the inherited share, the majority of scholars do not consider Zakat obligatory on it if it was intended for trade, due to it not entering into ownership by choice, though some scholars differed on this. For registrations in a housing association: if they are intended for personal use or rent, there is no Zakat on them. If they are intended for trade, then they should be appraised, and one-quarter of one-tenth of their value should be given out. If the registrations are not due until a later time, and they are intended for trade, then there is no Zakat now; they are considered like a debt, and Zakat is paid on them each year upon receipt.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/92861
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 92861
- 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