Zakat on inheritance lands
Question:
1. I have 2 plots that I have inherited from my father. I have intended to sale one and (then from the sale money) build on the other one. Please tell me whether I have to pay zakat on the plot that I intend to sale in future, although my intention is to build on the other plot with this plot's sale money.
2. I live in a normal size flat, but as per my growing needs, I would need a larger flat in coming future. For that purpose, I have started investing (some amount) in property with friends. On this investment (through sale and purchase of property), I get profit on my money but the intention is to get a bigger flat through this money. Do I need to pay zakt on this invested money?
Answer:
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
1. You are not obligated to pay Zakat on the lands since you did not purchase such lands for re-sale. Rather you received the lands as inheritance and you will only be obligated to pay Zakat on the cash amount accrued after the sale of the land based on your personal financial situation.
2. Kindly advise on the property investment you refer to in order for us to determine the Shariah Compliancy of the investment and the relevant Zakat rules thereof.
and Allah Ta'ala Knows Best
Mawlana Ismail Desai
Student, Darul Ifta
Durban, South Africa
Checked & Approved:
Mufti Ebrahim Desai
Disclaimer The views and opinions expressed in this answer belong only to the author and do not in any way represent or reflect the views of any organizations to which he may be affiliated with. The opinions and educational information proffered in this communication are based on the jurisprudential understanding and available knowledge of the author. Given that contemporary issues and interpretations of contemporary issues are subjective in nature, another scholar may reach different juristic inferences and conclusions to those as expressed by the author. Whilst every effort has been taken to ensure total academic integrity and honesty, the author is open to corrective measures based on sound academics and juristic inferences. The Shari’ah ruling given herein is based specifically on the specific scenario in question. The author bears no responsibility towards any party that acts or does not act on this answer and is exempted from any and all forms of loss or damage. This answer may not be used as evidence in any court of law without prior written consent from the author. Any or all links provided in our emails, answers and articles are restricted to the specific material being cited. Such referencing should not be taken as an endorsement of other contents of that website.
Browse next Fataawa