He bought land for the purpose of trading it and has not taken possession of it; does he have to pay zakaah on it?
Dear Brothers & Sisters,As-Salaamu-Alaikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)
One of our brothers/sisters has asked this question:
A man bought some land for the purpose of trading in it for a certain amount of money, but this man has not taken possession of the land until now and has not even received the title deed. Is zakaah due on it?.
(There may be some grammatical and spelling errors in the above statement. The forum does not change anything from questions, comments and statements received from our readers for circulation in confidentiality.)
Check below answers in case you are looking for other related questions:
Praise be to Allaah.
Yes, he has to pay zakaah on this land, even if he has not received the title deed, so long as the sale has been done and become binding. So he has to pay the zakaah on trade goods, working out its value at the market rate at the time when zakaah becomes due, and paying one quarter of one tenth of its value. End quote.
Whatever written of Truth and benefit is only due to Allah's Assistance and Guidance, and whatever of error is of me. Allah Alone Knows Best and He is the Only Source of Strength.
Recommended answers for you: