A man bought land with the intention of trading, and it remained in his possession for a long period. Is zakah due on it?
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The questioner : Shaykh, may Allah forgive you: A man bought land with the intention of trading, but it remained in his ownership for a long period. Is zakah due on it?
The Shaykh : Yes, if a person buys land for trading, he must pay its zakah every year, whether its value increases or decreases, and whether it is in demand or stagnant. He must appraise it each year at its current value. Then, if he has money, he pays its zakah from the money he has. If he does not have money, he records the zakah due for each year in that year, and when he sells it, he pays the zakah for the past years.
The Shaykh : Yes, if a person buys land for trading, he must pay its zakah every year, whether its value increases or decreases, and whether it is in demand or stagnant. He must appraise it each year at its current value. Then, if he has money, he pays its zakah from the money he has. If he does not have money, he records the zakah due for each year in that year, and when he sells it, he pays the zakah for the past years.