Presales and assignment in Islam

Fatawa Question

I would like to know what can make a pre sale purchase and assignment before ownership Halal ? in general, the model is some brother pay down payment on a property that is under construction and agree on a purchase price at completion over a year or more, and then by the time its ready before taking ownership they may sell the property (called assignment) without fully owning the property first. As doing this way they can save taxes and fees, which they would have to pay had to first fully purchase the property and pay fees and taxes and then sell that property.

Fatwa

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Publisher

al-Qalam Shariah Scholar Panel

Publication Date

2016-08-30

Country of Publication

United Kingdom

Main Subjects

Economics & Business Administration
Islamic Studies

Topics

• Islamic jurisprudence
• Sales
• Contracts
• Property transfers

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-726206

• APA
• MLA
• AMA