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Fatwa #146873 November 2006South Africa

I signed an agreement of sale to sell my investment flat on 21 august 2006. my cut off date for zakaat calculation is

Question

respected mufti,

1) i signed an agreement of sale to sell my investment flat on 21 august 2006. my cut off date for zakaat calculation is 15 ramadan ( 8 october 2006).  on 15 ramadan, the flat was still in the process of being transferred to the buyer and i had not received any monies. do i include the money due to me as part of my zakaatable assets?

2) would the answer to above question be different if i made a commitment to invest the money from the sale into another investment property.

jazakallah

Answer

Muhtaram Brother in Islam
 
Assalamualikum Warahmatullahi Wabarakatuhu
 
 
1.    The proceed of the sale of the flat is zakatable.
2.     The ruling is the same.
 
And Allah Knows Best
 
Mufti Ebrahim Desai
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