How do I sell my property in compliance with the Shari’ah?
Question
I have a tenant who wants to buy the property. I told the agent that the tenant can stay on the property and keep paying me instalments for 15 years and the property becomes his I will give him the transfer immediately but register a bond for balance owing. How do I handle it the Shari’ah way?
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
According to our understanding, you wish to sell your property to your tenant. In order to make the sale Shariah compliant, you must keep the following in mind:
The price of the property must be clearly specified.
The duration of the installments and the amount forwarded in each installment must be specified.
The sale must be unconditional.[1]
In principle, registering a bond is impermissible. The information regarding the bond you wish to register is unclear. In order for a ruling to be issued, please elaborate on the bond you wish to register.
If you have any further queries please feel free to contact the Darul Iftaa.
And Allah Ta’āla Knows Best
Mufti Faraz Ibn Adam al- Mahmudi,
UK
Checked and Approved by,
Mufti Ebrahim Desai.
www.daruliftaa.net
References (Arabic / Urdu sources)
[1] اللباب في شرح الكتاب ص 223-230 المكتبة العمرية
- Answered by
- Mufti Faraz Ibn Adam al- Mahmudi
- Checked & approved by
- Mufti Ebrahim Desai
Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah (AskImam). It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.