Mufti Online — Madrasah Ta'leemuddeen

Zakaat on land purchased with the intention of resale

· 24 Rabiʻ I 1437 AH1 min readEnglish

Question

Does one need to pay zakaat on land purchased abroad in 2008 with the intention of selling in the future? Currently the land is vacant as the prices for land have reduced greatly and demand is very low and the land wont be sold until another 4/5 years at least. If so, how does one calculate?

Answer

If the land was purchased with the intention of resale, then zakaat will have to be paid on it. Zakaat will be paid on the market value of the property.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
View original Compare with other Darul Iftas
Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, please ask a Mufti. Report an issue

For corrections or mistakes, please email us at fatawasa786@gmail.com.

Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/13455
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-13455

People also ask

Can I gift the reward of Qur'an recitation to the deceased (esaal-e-thawaab)?

“It is not permissible to hold forty day khatams upon the demise of the deceased. Forty day khatams are not established in deen and are regarded as innovated practices. Hence, holding such practices is not permissible, neither in…”

Mufti Online · 213 fatawa from 6 Darul Iftas on this

What the Darul Iftas say
Is zakaat payable on property and rental income?

“1. In principle, zakat will only be wajib on land if it is bought with the intention of selling it. Therefore, zakat is not wajib on the land you bought. 2. It will be permissible to consider the zakat you paid for that land as…”

Ask Imaam · 122 fatawa from 6 Darul Iftas on this

What the Darul Iftas say

Related fatawa