Zakaat on a Property
Question
Aslmalkm, I purchased a property but I am still not sure if I am going to keep it or sell it. I have been paying Zakaat on the property for a few years. I have a doubt if I should be paying Zakaat on it in the first place. Do I have to pay Zakaat on the property?
Answer
In principle, Zakat is only compulsory on property which was purchased with the specific intention of reselling. In your case, you did not have a specific intention to resell the property upon purchasing it. Hence, you are not obliged to pay Zakat on the property.
Only when you have made up your mind to sell the property, you would be obliged to pay Zakat on the property according to your personal financial situation.
And Allah Ta’ala Knows Best
- Checked by
- Mufti Ebrahim Desai
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