DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Very detailed questions about Zakah on Land

**stoneeZef** · 12-05-2011, 11:03 AM

Ok, here is what I want to do:

I want to buy the land from a Real Estate Company by paying the full amount all at once (forget the payments-by-instalments). After some time, I intend to invite a Developer to build a set of apartments on this building. As part of the deal, no money will exchange hands. I will retain 50% of the apartments and give the rest to the Developer. I intend to rent out these apartments eventually or maybe even sell them. Add this above as a summary to the First post, so it will be easier.

The timeline of calculation of Zakat can be divided into the following;

So point A, you have money with you but no Land. So the Zakat here is only on the Money.

Point B, After purchase of the Land, building not yet built.

Point C, Building being built, construction not finished, No money exchanged.

Point D, Construction finished and 50% of the building goes to the contract Builder, and you posess 50%

Point A need not be discussed, as normal rules of Zakat is easily applicable.

12-05-2011, 11:03 AM	#12
stoneeZef Join Date Oct 2005 Posts 478 Senior Member	Ok, here is what I want to do: I want to buy the land from a Real Estate Company by paying the full amount all at once (forget the payments-by-instalments). After some time, I intend to invite a Developer to build a set of apartments on this building. As part of the deal, no money will exchange hands. I will retain 50% of the apartments and give the rest to the Developer. I intend to rent out these apartments eventually or maybe even sell them. Add this above as a summary to the First post, so it will be easier. The timeline of calculation of Zakat can be divided into the following; So point A, you have money with you but no Land. So the Zakat here is only on the Money. Point B, After purchase of the Land, building not yet built. Point C, Building being built, construction not finished, No money exchanged. Point D, Construction finished and 50% of the building goes to the contract Builder, and you posess 50% Point A need not be discussed, as normal rules of Zakat is easily applicable.
	Quote