I sold a piece of land and received its value; is the zakat due immediately?
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The second question of Fatwa No. ( 20553 )
Q2: I sold a piece of land and received its value; is the zakat due immediately? Please inform us. May Allah reward you with good and make your knowledge beneficial to Islam and the Muslims.
A2: The lunar year for the obligation of zakat on the aforementioned land begins from the moment you intended to sell it. So, if a full lunar year has passed since your intention to sell, you must pay zakat on it if it is still in your possession. This is done by appraising it at its value at the completion of the lunar year and paying one-tenth of the appraised value, or by paying zakat on the money you sold it for by paying one-tenth of it. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q2: I sold a piece of land and received its value; is the zakat due immediately? Please inform us. May Allah reward you with good and make your knowledge beneficial to Islam and the Muslims.
A2: The lunar year for the obligation of zakat on the aforementioned land begins from the moment you intended to sell it. So, if a full lunar year has passed since your intention to sell, you must pay zakat on it if it is still in your possession. This is done by appraising it at its value at the completion of the lunar year and paying one-tenth of the appraised value, or by paying zakat on the money you sold it for by paying one-tenth of it. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.