What is the difference between this situation and a pledge?
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The questioner : What is the difference between this situation and a pledge?
The Shaykh : The pledge belongs to the pledgor, not the pledgee.
The questioner : Yes.
The Shaykh : The pledgee’s maximum entitlement is merely to secure his right. When the term expires and the debt is not paid, the pledged item is sold, and the pledgee receives only the amount of his right; that is, he does not take more.
The questioner : Yes.
The Shaykh : So if I pledge this house or this property for one hundred thousand, and the term expires and I do not pay, it is sold, and the pledgee receives only the amount of his money, and the remainder is returned to me. Thus, he has obtained only the mere security of his right.
The questioner : Yes, may Allah bless you.
The Shaykh : The pledge belongs to the pledgor, not the pledgee.
The questioner : Yes.
The Shaykh : The pledgee’s maximum entitlement is merely to secure his right. When the term expires and the debt is not paid, the pledged item is sold, and the pledgee receives only the amount of his right; that is, he does not take more.
The questioner : Yes.
The Shaykh : So if I pledge this house or this property for one hundred thousand, and the term expires and I do not pay, it is sold, and the pledgee receives only the amount of his money, and the remainder is returned to me. Thus, he has obtained only the mere security of his right.
The questioner : Yes, may Allah bless you.