Is zakah obligatory on land purchased to preserve wealth?
Machine translationRead the Arabic original
The Shaykh : In the name of Allah, the Most Gracious, the Most Merciful. The student is Musa Muhammad Musa Mustafa. Yes.
The questioner : A man has a sum of money and purchased several plots of land. He has no intention of trading in them whatsoever, except that he wanted to preserve his wealth, because keeping it in cash reduces its purchasing power year after year. However, if he preserves his wealth by buying land, its value remains stable or even increases, but he never intends to sell it except when in need.
The Shaykh : He owes no zakah on this. What did you see that you are not ashamed of our property? He owes no zakah, meaning, does the one who only wants to preserve his wealth owe nothing?
The questioner : A man has a sum of money and purchased several plots of land. He has no intention of trading in them whatsoever, except that he wanted to preserve his wealth, because keeping it in cash reduces its purchasing power year after year. However, if he preserves his wealth by buying land, its value remains stable or even increases, but he never intends to sell it except when in need.
The Shaykh : He owes no zakah on this. What did you see that you are not ashamed of our property? He owes no zakah, meaning, does the one who only wants to preserve his wealth owe nothing?
Source
الفتاوى الثلاثية (3) - 2 — binothaimeen.net
The Arabic text is a machine transcription of the audio recording.