A man’s name was listed in the real estate bank, so he sold it. Is this money lawful?
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The questioner : May Allah reward you, O Shaykh: This man’s name came up in the real estate bank, and then he relinquished it to another person in exchange for sixty thousand riyals. Is this permissible?
The Shaykh : Yes, this is not permissible, because a person’s right in the real estate bank is a right of usufruct. If he is still in need of benefiting from this loan, let him do so. If he is not in need, he should leave it alone, and it is not permissible for him to take compensation for it. There are people you find waiting for when their names come up, and it is said: Either benefit from it if you are in need, such as if he has built the house for which he applied, but he borrowed from people to build it, so here he is in need and takes the loan. Or it is said: You have finished, so you have no need for this.
The questioner : Is this riba, meaning the money he took?
The Shaykh : This is riba and injustice as well, because it is not your right.
The Shaykh : Yes, this is not permissible, because a person’s right in the real estate bank is a right of usufruct. If he is still in need of benefiting from this loan, let him do so. If he is not in need, he should leave it alone, and it is not permissible for him to take compensation for it. There are people you find waiting for when their names come up, and it is said: Either benefit from it if you are in need, such as if he has built the house for which he applied, but he borrowed from people to build it, so here he is in need and takes the loan. Or it is said: You have finished, so you have no need for this.
The questioner : Is this riba, meaning the money he took?
The Shaykh : This is riba and injustice as well, because it is not your right.