We have a piece of land that we bought on installment for the purpose of residence, but because of the burden of debt, we sold it. Is there zakah on it?
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Question:
May Allah reward you. The questioner says: We have a piece of land that we bought on installment, and the predominant intention was to reside in it after building on it, but because of the burden of debt, we sold it. Is there zakah on it?
Answer:
If a year has passed and it is being offered for sale, then zakah is due on it. However, if a year has not passed and you sold it, there is no zakah on it. But if its value remains with you for a year, it is subject to zakah. Yes.
May Allah reward you. The questioner says: We have a piece of land that we bought on installment, and the predominant intention was to reside in it after building on it, but because of the burden of debt, we sold it. Is there zakah on it?
Answer:
If a year has passed and it is being offered for sale, then zakah is due on it. However, if a year has not passed and you sold it, there is no zakah on it. But if its value remains with you for a year, it is subject to zakah. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، [572 -954] لدينا أرض اشتريناها بالتقسيط من أجل السكن، ولكن لغلبة الدين بعناها، فهل عليها زكاة؟ — youtube.com
The Arabic text is a machine transcription of the audio recording.