Question
A property is sold for X amount. 47% of the purchase price is paid. The seller collects the amount and signs the documents. It is clearly mentioned that if anything happens, e.g. death, the deal will stand cancelled and the money should be returned to the buyer's heirs. Both parties understand this and the money is given on trust. The purchaser demands 47% of the rental income, but the seller refuses. Is the buyer entitled to 47% of the rental? If the transfer is delayed, is the seller entitled to collect the rental? What is the Shariah's ruling?
Answer
The purchaser paid 47% of the price, leaving a balance of 53%. While the seller is entitled to retain possession of the property until the full price is paid, he (the seller) may not derive benefit/profit from the property. All benefit acquired by way of rental belongs to the purchaser. However, in this case the sale must be cancelled. Only then will the seller be entitled to the rents. The money paid by the buyer must be refunded in full. The condition that the transaction will stand cancelled if one of the parties dies, is invalid. The condition of part of the rental is for the seller is also invalid. The deal had already been concluded. The condition of the money being in trust is nonsensical. The money given by the purchaser is not Amaanat if the sale was valid. The money is the property of the seller. It is part of the purchase price.
The seller is entitled to the balance owed to him, and the purchaser is entitled to all the rent. The seller may deduct the rent he had collected from the amount owing to him. If there is a surplus, it should be given to the purchaser. This will apply if the sale is valid. But this particular deal is faasid (invalid), and should be cancelled.
Delay of the transfer has no effect on the ownership of the rental. It belongs to the purchaser in a valid deal.. The mutual agreement has no validity. With the faasid conditions, the bay' (sale) is undoubtedly faasid. They should cancel the sale, refund the purchaser his money and renegotiate the deal.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 20 No 10
- PDF page
- 5
Verbatim verified against the source PDF