Is it permissible to endow buildings that were built with a loan from the real estate bank?
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Question: Is it permissible to endow buildings that were built with a loan from the Real Estate Development Fund, while they are still mortgaged with the Fund?
Answer: There is scholarly disagreement on this issue, which is based on another issue: Is a pledge binding without possession, or not? Whoever says that it is not binding except with possession says that the endowment and other transactions that transfer ownership are valid, because the pledge has not been taken into possession. Whoever says that the pledge is binding even if the pledged item has not been taken into possession says that the endowment and other transactions that transfer ownership are not valid. Thus, it is known that the most cautious course is not to endow it until the debt owed to the bank is paid, in order to avoid the disagreement among scholars and to act in accordance with the noble hadith:
Answer: There is scholarly disagreement on this issue, which is based on another issue: Is a pledge binding without possession, or not? Whoever says that it is not binding except with possession says that the endowment and other transactions that transfer ownership are valid, because the pledge has not been taken into possession. Whoever says that the pledge is binding even if the pledged item has not been taken into possession says that the endowment and other transactions that transfer ownership are not valid. Thus, it is known that the most cautious course is not to endow it until the debt owed to the bank is paid, in order to avoid the disagreement among scholars and to act in accordance with the noble hadith:
Muslims are bound by their conditions
المسلمون على شروطهم
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.