Some people agree with companies to purchase a specific piece of land and then sell it
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The fourth question of Fatwa No. ( 21095 )
Q4: Some people agree with companies to purchase a specific piece of land and then sell it, knowing that the purchase is not completed until the earnest money is paid. What is the ruling on this?
A4: It is not permissible to sell land or anything else unless it is in one's ownership at the time of sale, based on the saying of the Prophet (peace and blessings be upon him):Sunan Ibn Majah 2187Hasan (Darussalam) Taking the earnest money is evidence of the completion of the sale, so it is not permissible in this case. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q4: Some people agree with companies to purchase a specific piece of land and then sell it, knowing that the purchase is not completed until the earnest money is paid. What is the ruling on this?
A4: It is not permissible to sell land or anything else unless it is in one's ownership at the time of sale, based on the saying of the Prophet (peace and blessings be upon him):
Do not sell what is not with you.
لا تبع ما ليس عندك
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.