The house prepared for rental and shares: how to pay zakah
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Fatwa number ( 16994 )
Q: Your Eminence: I own: A- a house prepared for rental (apartments). B- six plots of land prepared for sale, but the market has dropped, so I kept them until the market improves. C- I have a share with a person in land for sale, but due to the drop in land prices, sales have stopped. Is there zakah on all of the above if a lunar year has passed? Are the lands considered goods for trade, and how do I pay the zakah if it is due? I ask that you clarify with an example.
A: A- There is no zakah on the house prepared for rental; rather, the zakah is on its rent. If a lunar year has passed from the time of the contract, you pay one-fifth of a tenth (2.5%) of it. May Allah grant success. B- Plots of land prepared for sale are subject to zakah every year. You estimate their value at the beginning of the year and pay one-fifth of a tenth of the estimated value. C- Your share in commercial land is subject to zakah every year. You estimate the value of the land and pay one-fifth of a tenth of your share of that estimated value.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad and his family and his Companions.
Q: Your Eminence: I own: A- a house prepared for rental (apartments). B- six plots of land prepared for sale, but the market has dropped, so I kept them until the market improves. C- I have a share with a person in land for sale, but due to the drop in land prices, sales have stopped. Is there zakah on all of the above if a lunar year has passed? Are the lands considered goods for trade, and how do I pay the zakah if it is due? I ask that you clarify with an example.
A: A- There is no zakah on the house prepared for rental; rather, the zakah is on its rent. If a lunar year has passed from the time of the contract, you pay one-fifth of a tenth (2.5%) of it. May Allah grant success. B- Plots of land prepared for sale are subject to zakah every year. You estimate their value at the beginning of the year and pay one-fifth of a tenth of the estimated value. C- Your share in commercial land is subject to zakah every year. You estimate the value of the land and pay one-fifth of a tenth of your share of that estimated value.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad and his family and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.