Zakaat on an Additional House or Real Estate when it is rented out
Channel: Zakir Naik
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Thank you, Doctor Sokka. The next question. Question number four.
Some people invest in real estate 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 rent and not on its original value. What is your observation on this issue?
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 that to make a profit, then all the scholars unanimously agree that the cash 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 bear on it. But if you have land, and if you give it on rent means 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. Zakat 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 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 and mainly the purpose and investment, but if they think that they'll buy the land they sell after for five years when the price rises, so but natural deodorant to keep it vacant. So they give it on rent to a person
who requests to stay in that flat. Now what will happen should we pay the gardener? So yeah, there's a difference of opinion.
Yes, 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 five 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 this view. And they say that if you buy a land, even if you give it on Trent
the cost of the land the market value of that land or of that flat should be paid every year.
me appeal they say this epinal rB
nevski, Luiza humbly,
RB who is a Maliki Shaykh Abu Zahra, who's a Hanafi abderrahman Allison
who is presently a very rich scholar, chicken soccer Bobby, and scholar of the same group. They say that if a person buys and has many flats on rent,
then you 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 house he living in a second or he gives on rent. So unanimously people agreed that the rentier class, if it saving if more than a new sub level, 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 scholars, that the car should be only paid on the rent, suppose a person has 100 flights
costing hundreds of 1000s of dollars.
And the rent that he gets
utilized is what is required for his personal expenses. And before one year is over, after he gets the rent, he buys another few flats.
So, and if he doesn't have any gold jewelry, that means he will not pay the hospital
after the 100 floods 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, half the land in the city. So, if you agree that the car should not be paid, he may be a multi billionaire
may own half the city may own three fourths of the city, he takes rent, when he gets the rent.
before it becomes one year utilizing what he wants. Then he buys new land and is across the 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 mill RB appeal shikibu Zahra shake
And the likes of the scholars who say that if a person possesses a large amount of land and many houses giving on rent, then the crowd 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,
he has to pay 2.5% 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 up for that, even if we get some up. So always agree when in doubt, leave it out and go on the side which most of us because minimum is two and a half percent of the crowd if you pay more, Allah will be happy.