The Ruling on Pledges and Their Method

Question:
A message was received for the program from one of the sisters, in which she asks about the ruling on pledges in Islam, and what is their method? May Allah reward you with good.

Answer:
A pledge in Islam is a document for preserving the debt that is upon the pledgor, as Allah (Exalted and Majestic is He) said: [al-Baqarah:283] meaning, in place of witnesses, and in place of writing, there is the pledge. For this reason, He, the Exalted, says: [al-Baqarah:283] So the pledged item is wealth placed with the creditor until, if the pledgor delays in discharging the right, this pledge is sold, and the debt is recovered from it through the court, or by mutual agreement between him and the pledgor. For example, he leaves a car with him as a pledge, he leaves clothes with him as a pledge, he leaves jewelry with him as a pledge, he gives him his house as a pledge, or land as a pledge; there is nothing wrong with that.
So the pledged item, and the pledge, is wealth that the creditor takes possession of as a document for his debt, until, if the debtor—and he is the pledgor—delays in discharging the debt, he demands the sale of the pledge between them, or through the court, so that his debt is paid. Yes.

The presenter: May Allah reward you with good, and may He do you good.