The Ruling on Selling and Buying Villas Mortgaged to the Real Estate Bank

Question : They sell and buy villas that are mortgaged with the real estate bank.

Answer : It is not permissible to sell mortgaged property, nor to buy it. The owner of mortgaged property is not permitted to sell it, and one who knows that it is mortgaged is not permitted to buy it. This is the default ruling regarding mortgaged property. As for property mortgaged to the real estate bank, a license has been issued for its sale under the conditions they mentioned. He warns me now that the buyer had not previously benefited from the fund. Are there other conditions as well? That is, he should... Yes, let us take a look at it. Five years under my condition. The third condition is that the seller, who is the beneficiary from the bank, and the buyer must be present. Then the loan is transferred; the loan is transferred to the buyer's name. If these conditions are met, then the right belongs to the fund. If the fund waives its right under these conditions, it is permissible for us to sell it under these conditions. However, on this occasion, I would like to point out something some people do, which is borrowing the name of another person to benefit from the fund. This is a right [of the fund], and some of them buy in the name of another person who has not benefited from it, so that he can benefit from it. This is forbidden (haram). It is not permissible for the one who borrows this name, nor for the one who lent it, because of the lying, the betrayal of the state, and the deception of the state involved in it. A person in matters of wealth—how one wonders how some people fall into forbidden matters, even though they are upright in their prayer, their fasting, their Hajj, and their morals. But when it comes to wealth, you find that he lies, cheats, and does not hesitate to commit a forbidden act. This is undoubtedly from the whispers of Satan.