Question

Zakah on piece of land for children

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Question

Al-Salam Alykum! I own a piece of land which I bought to keep for my children to build on in the future. Do I have to pay ZAKAH on it? If yes, how much do I have to pay of the land's price and do I have to pay ZAKAH on it annually (i.e. every year)? Shukran Allah Yejzikom Al-Kheir.

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Accepted Answer

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger.

There is no Zakat on this piece of land which you bought in order to build a house for your children on.

However, if you purchased this land for the purpose of trading with it and gain a profit from it, then it is considered as a tradeable item, in which case you are obliged to pay Zakat on it for all the previous years.

Allaah Knows best.

Fatwa

Zakah on piece of land for children

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Answer

Related Fatwa

Ruling on Using Fundraising Proceeds for Event Expenses

The entrusted does not guarantee damage unless he has transgressed or was negligent

Wants to Give Zakat Money to His Indebted Brother

Giving Zakat to People Affected by Natural Disasters Such as Earthquake, Flood, and Fire

Zakat on Purchased Property

The Money of Zakat Is Paid Out to Its Beneficiaries in Cash

No Zakaah on money in possession less than lunar year

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