Zakah on Real Estate Intended for Trade
Machine translationRead the Arabic original
The first and second questions from Fatwa No. ( 18 )
Q1: A piece of land where a house is located was purchased by a person near a city, hoping that the desire for it would reach it, more than seven years ago. Its value is estimated at its purchase price plus a small profit. Is zakah obligatory on its value? Does he pay zakah on it before or after selling it? Is the zakah for one year or for all the past years?
A1: This land is among the goods of trade. Goods of trade are assessed when a lunar year has passed over them, and their zakah—one quarter of the tenth—is paid from their value. Therefore, zakah is obligatory on the value of this land for all the past years. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q1: A piece of land where a house is located was purchased by a person near a city, hoping that the desire for it would reach it, more than seven years ago. Its value is estimated at its purchase price plus a small profit. Is zakah obligatory on its value? Does he pay zakah on it before or after selling it? Is the zakah for one year or for all the past years?
A1: This land is among the goods of trade. Goods of trade are assessed when a lunar year has passed over them, and their zakah—one quarter of the tenth—is paid from their value. Therefore, zakah is obligatory on the value of this land for all the past years. 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.