Home » Hanafi Fiqh » Darulifta-Deoband.com » Are you eligible to own the property with the loan and your father’s contribution?

Are you eligible to own the property with the loan and your father’s contribution?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
I have one flat which I have taken from bank on loan. At the time of purchasing I thought that after selling it I will start my own business and make home. My father also gave me some area for resident. Am I eligible for this property?

بسم الله الرحمن الرحيم

(Fatwa: 1084/1112/N=10/1437)

The land which your father gave you for residence no zakah shall be wajib on it as it is not business item. However the plot which you bought with the firm intention of selling and still you have the same intention then it is business item as per the Shari’ah and thus zakah shall be wajib on it yearly. And while paying the zakah of plots the price of the day of payment shall be taken into consideration. Thus the day on which you want to pay the zakah whatsoever price in the market is of the plot, you should pay its fortieth part as zakah.

لا زكوة فى اللآلئ والجواهر وإن ساوت ألفاً اتفاقاً إلا أن تكون للتجارة ، والأصل أن ما عدا الحجرين والسوائم إنما يزكي بنية التجارة الخ (الدر المختار مع رد المحتار ، كتاب الزكاة ، 3: 194، ط: مكتبة زكريا ديوبند)، وقال في غنية ذوى الأحكام : والخلاف في زكاة المال فتعتبر القيمة وقت الأداء في زكاة المال على قولهما وهو الأظهر ، وقال أبو حنيفة رحمة الله : يوم الوجوب كما فى البرهان (غنية ذوى الأحكام 1: 181، ط: كراتشي).

Also see Fatawa Darul Uloom Deoband (6: 131, 145, Question: 196, 221, publ. Maktaba Darul Uloom Deoband), Fatawa Mahmoodia (Jadid Dhabel, Kitab al-Zakah) and Fatawa Usmani (2: 50, 54, pub. Maktaba Darul Uloom Karachi) etc.

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

Read answers with similar topics: