Inheriting a share of a Business
Question
My father was in a partnership with two of his friends. they put in capital in the business and they were partners in the business
My father has now passed away so now we wanted to know if we will inherit the share in the business
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In principle, if any one of the partners pass way during the course of a Musharakah (partnership), then the contract with that partner stands terminated.
Hence, if there is no clause stating what should be done with the share of your father after his demise, then the following rulings will apply:
If both the partners and the heirs agree to carry on the Musharakah contract, then it will carry on as is. Should either party disagree, the partners will have to buy out the share of the heirs.
And Allah Ta’āla Knows Best
Mudassir Benish
Student - Darul Iftaa
U.S.A
Checked and Approved by,
Mufti Ebrahim Desai.
- Answered by
- Mudassir Benish
- Checked & approved by
- Mufti Ebrahim Desai
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