Question Summary:
How to pay Zakaat on land?

Question Detail:

I have purchased a certain piece of land and it will be sold by me till i get a proper amount that appeals to me. I have at present made part payment of this land. It is decided that the rest of the amount shall be given after the formalities regarding the land are completed so that it can be legally transferred in my name. Now my question is two folds.
The first being that can i sell this land directly so someone if i get a proper amount before giving the entire amount. Or is it that i shall have to pay the entire amount and take the land in my name legally and then only will i be able to transfer it.
Secondly what is the manner in which Zakat is to be paid for such kind of land and in such a situation.

Answer :

Answer:
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
1) Please inform us whether you have taken total possession of the land or not in order to answer the question.
2) Zakaat will not be paid on such a land until total possesion takes place.  Once you acquire the land fully then you will pay Zakaat on the market price.[1]
And Allah Ta’āla Knows Best
Mawlana Mohammed Patel,
Student Darul Iftaa
Lusaka, Zambia.
Checked and Approved by,
Mufti Faisal  Bin Abdul Hameed
 

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