Rulings On Paying Zakaat On Real Estates

Zakir Naik

Channel: Zakir Naik

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Rulings On Paying Zakaat On Real Estates – Dr Zakir Naik

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Some people invest in real estates because they don't want to invest in banks. But they claim that the Zakat on such wealth has to be paid only on its rents, and not on its original value. What is your observation on this issue?

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As far as the view of the majority of the scholars is concerned, what they say that if the land has been purchased for selling, or to make a profit, then all the scholars unanimously agree that the card should be paid on it. As we discussed in the last answer, that the moment one year is completed, the land that you purchase, the cat has to bid on it. But if you have land, and if you give it on rent, which if you buy a house and give it on rent, majority of the scholars say that Zakat is not applicable on the value of the house, the cost is only applicable on the rent to receive the moment received the rent, and if it stays with you for a period of one year. And if it's

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above the nisab level, then you have to pay the cost on the rent, not on the value of the house, the flat or the land. But nowadays, most of the people that purchase land for investment, they give it on rent. So you're in a dilemma that people who purchase land mainly the purpose and investment, but if they think that they'll buy the land they sell after four or five years when the price rises. So but natural deodorant to keep it vacant. So they give it on rent to a person

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who request to stay in that flat. Now what will happen should we pay the gardener? So yeah, there's a difference of opinion.

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Just scholars differ. Some scholars say that fine. Pay only Zakat on the rent. If you pause it for more than one year if it's above the sub level and when you sell it on that they only pay the two and a half percent of the total value of the land. But there are some scholars who are very strict and disagree with you. And they say that if you buy a land, even if we give it on Trent

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the cost of the land the market value of that land or of that flat should be paid every year.

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Scholars like

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me happy they say this afternoon Rb

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epner ki Luiza humbly,

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Adnan

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araby, who is a Maliki Shaykh Abu Zahra Hanafi, Abdullah Manasa

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Shaykh

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Abdullah Aleph,

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who is presently a very weird scholar,

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and scholar of the same group, they say that if a person buys and has many flats on rent,

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then he should even pay zakat on the cost of the flat of that land. But for example, if a person is a poor person and doesn't have an income doesn't have any business and he has only one, how's he living, and a second of which he gives on rent. So unanimously people agree that the rentier class, if it's saving you more than the sublevel but there are many rich people who are landlords, and who possess many houses, many flats with the given rent, they own large properties. And if you agree with the view of the majority of the scholars, the class should be only paid on the rent, suppose a person has 100 flats

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costing hundreds of 1000s of dollars

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and the rent that he gets

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utilize is what is required for his personal expenses. And before one year is over, after he gets the rent, he buys another few flats.

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So, and if he doesn't have any gold jewelry, that means he will not pay the hospital

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after the 100 flats become 110 120 140, maybe he is one of the richest men in the city of Bombay or any city, he may own half the property of the city have the land in the city. So, if you agree that the car should not be paid, he may be a multi billionaire

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may own half the city may own three fourths of the city, he takes rent, when he gets the rent.

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before it becomes one year utilizing what he wants. Then he buys new land and his other northern land, which is given on rent, he will keep on getting richer and richer and richer without paying a single dollar as a cat. So therefore I agree more with the minority group of scholars like admin, rb appeal shikibu, Zora Shaykh, Yusuf al qaradawi and the life of the scholars who say that if a person possesses

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large amount of land and many houses giving on rent, then the tract should be even paid on the cost price of the land of the flat, whatever the present value of that land or of that house.

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He has to pay 2.5% Zakat every year. I agree more with these steps. And anyway, even if it's not required, a person pays extra I learned question you. Surely you will get some of that even if we give a stopgap we get so up. So always agree when in doubt, leave it out and go on the side.

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Because minimum is two and a half percent so if you pay more, Allah will be happy