Fatwa #216830 January 2001United States of America

I have read in a book that if there is an outstanding debt of R120,000 on a house worth R120,000 the entire amount is exempt from Zakaat. Is that correct?

Question

If that is the case, one will not pay Zakaat for many years.

Answer

The ruling contained in that book is incorrect. Only the amount that is
due for one year will be regarded as a liability. (Shaami vol.3 pg.177;
Lebanon)

From: Al Mahmood 13 Q & A from the Darul Ifta
Mufti Ebrahim Desai

#2307Rules relating to Debt and zakaat.
#172051) I had a appartment worth 150,000/- Euros(sold already now) on which I had mortgage amount remaining of 75,000/- Euros..... 2) I have 150,000/- Euros in my bank account for last 8 months, but I had more than Nisaab
#14422Can you please advise as to the rules regarding payment of zakaat when there is an outstanding debt of £10,000?
#14631I go by the mid of Ramadhan as my year end for Zakat purposes. I bought a house on Islamic Finance. I have already paid 10% of the price as a booking deposit. I am expected to pay another 12% by end of December 2006.
#19619My late father left outstanding debts and left no wealth except his house. What should we do?
#33831Do i have to pay Zakaat while i have debts to pay?
#192041. what can you do to leftover foods like chapatti etc because you cannot give it to the ducks etc...2. 2. you've got a house in pakistan 3 floors.Bottom floor has 4 houses on rent and the rest 2 floors is used by my dads family back home. do we have to give zakaat on the rent of those houses as they are extra.
#16987I have about $10,000 worth of net debt. Can my father give me some of his interest money.

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