A building for investment and rental, sold after seven years, so what is its zakah?
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Q: His Eminence Shaykh Abdul Aziz ibn Abdullah ibn Baz (may Allah preserve him). Peace be upon you, and Allah’s mercy and blessings. And after:
Please issue a ruling for us, may Allah reward you, regarding this question: A building for investment and rental, sold after a period of seven years, so what is its zakah? And how?
A: And upon you be peace, and Allah’s mercy and blessings, after that:
If the situation is as you described, there is no zakah in the building itself, but rather the zakah is on the rent if a lunar year has passed over it, and it is one-quarter of a tenth, which is twenty-five out of every thousand.
As for after its sale, zakah becomes obligatory on the price if a lunar year has passed over it, and it is one-quarter of a tenth as mentioned previously. May Allah guide everyone to what He is pleased with, and peace be upon you, and Allah’s mercy and blessings.
Clarification: If the price is, for example, ten million, then the zakah is two hundred and fifty thousand.
Abdul Aziz ibn Abdullah ibn Baz
The General President of the Departments of Research
Scientific, Ifta, Da'wah, and Guidance
Please issue a ruling for us, may Allah reward you, regarding this question: A building for investment and rental, sold after a period of seven years, so what is its zakah? And how?
A: And upon you be peace, and Allah’s mercy and blessings, after that:
If the situation is as you described, there is no zakah in the building itself, but rather the zakah is on the rent if a lunar year has passed over it, and it is one-quarter of a tenth, which is twenty-five out of every thousand.
As for after its sale, zakah becomes obligatory on the price if a lunar year has passed over it, and it is one-quarter of a tenth as mentioned previously. May Allah guide everyone to what He is pleased with, and peace be upon you, and Allah’s mercy and blessings.
Clarification: If the price is, for example, ten million, then the zakah is two hundred and fifty thousand.
Abdul Aziz ibn Abdullah ibn Baz
The General President of the Departments of Research
Scientific, Ifta, Da'wah, and Guidance
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.