The one partner has agreed to sell his share in instalments over a period of 5 years. What is the Shar’ee ruling if the seller passes away before being fully paid? Is the purchase and sale agreement still binding or does the whole amount become due immediately on the death of the seller?
The heirs of the seller are bound to honour the purchase and sale agreement of paying in instalments made by the seller during his lifetime. (Shaami vol.4 pg.532;HM Saeed, Bahr al-Raaiq vol.5 ph.280; Rashidiyyah)
However, the purpose of such a deal should not be to deprive the heirs of the selling partner of their immediate right upon the death of the selling partner.
And Allah Ta’ala Knows Best
Mufti Ebrahim Desai