Business inherited from a deceased father
Question
We inherited a family business from our deceased father, who has unsettled money due to me. I owe my late father’s heirs money. Can I offset the business debt with the money owed to me?
Answer
Yes, it is permissible on condition that there is mutual consent between all the parties involved.
O you who believe! Do not unjustly consume the wealth of each other but by way of trade with your mutual consent.
References (Arabic / Urdu sources)
يَا أَيُّهَا الَّذِينَ آمَنُوا لَا تَأْكُلُوا أَمْوَالَكُم بَيْنَكُم بِالْبَاطِلِ إِلَّا أَن تَكُونَ تِجَارَةً عَن تَرَاضٍ مِّنكُمْ ( النساء آ : 29)
- Answered by
- Maulana Abdul Kader Fazlani
- Checked & approved by
- Mufti Mohammed Desai
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