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Unpaid Zakat On Properties/Plots Which Have Now Been Transferred To Children
Dear Sir,
I would like to ask that long time back we purchased some assets, mainly plots/shops etc. The time of purchase varies for each asset and the actual amount paid is also not known. Some assets were purchased 15 years back and some 20 years back. A few years back they are transferred in children name as well.
At that time it was told that on the assets which are not for trade purposes or kept for children there is no zakat to be calculated.
Please advise if this is correct and if not how can we do the compensation in this case. Since the assets are now transferred in children’s name do they need to pay zakat or the main owner who kept the assets in his/her possession for that period of time.
Appreciate your help and advise in this regard.
Best regards,
Usman
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1 Reply
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Unpaid Zakat On Properties/Plots Which Have Now Been Transferred To Children
updated 1 year, 9 months ago
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Reply
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The principle is that for zakat to be due on an asset, it has to be at one’s disposal (tassaruf). If an asset is legally tied up or is otherwise not available at one’s disposal, then zakat doesn’t become due until the asset becomes availabe for such utilization.
For Property Kept in the name of Children or for the Children or for Capital Gain Purposes:
Please refer to the following responses for details and do post a follow-up question in case you require further clarification:
Discussion 65386 • Reply 65399
Discussion 65386 • Reply 66151
For Property Kept as a Trading Business:
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