If I want to purchase a medallion from someone, who has borrowed loan from the bank to pay off that medallion? My contract with him is that he should pay off to the bank and wrap up that deal; I would pay him every month 2000 dollars in installments until I completely pay him off. After that he would transfer the title to my name. So, what is the ruling of the shariah about this?
If the situation is just like that, that if you pay off the amount in installments and after the completion of it you would get the title then this transaction would be fine.
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