[Inheritance]

Fatawa Question

Salam Ustazna, Hope you are well. Here are the questions of this week's session, sorry for delaying them : My father died in 2004, leaving my mother, my 3 sisters and me behind. I'm the only son. My father was an employee in government owned company. At the time of his death, he was a member of his company's housing society, under which he was supposed to be allotted a plot of land. He was paying for the cost of that plot in installments. At the time of his death, the total amount for the plot had not yet been paid. Also, the plot had neither been allotted, nor legally registered in his name and of course not physically handed over. Also, he had nominated me in that membership. Apart from this, he had following property at the time of his death : A) 2 agricultural plots, on which farming was being done. B) 2 residential plots lying vacant. C) 1 partially built-up house. D) Gold and silver jewelry. E) Money invested in banks, post office, mutual funds, etc. F) Money from his company as provident fund, gratuity, group insurance, social security, etc. G) Money from different life insurance policies. H) Household items. During the 8 years after his death, I and my mother have invested money in mutual funds, share market, purchased some more agricultural land, purchased 2 more plots of residential land, bought jewelry for my sister's marriage, and also significantly paid the remaining amount for the plot under my father's company housing society. That plot has now been registered in my name. I've also built up a house on that land, after taking a bank loan based on my earnings. Now, more than 8 years after his death, my eldest sister, who's married, is demanding her share only in that plot, on which I've built up the house. I and my mother want to divide and distribute the entire property. Now, I want to know that how should be the evaluation of the entire existing property be done considering that in last 8 years, money has been spent on household and on the education of 2 of my sisters, invested at various places and accounts, used to purchase more property, etc. In what proportion should the evaluated property be divided amongst us ? And most importantly, do my sisters have a right for share in that plot of land which is legally registered in my name now, and which was not registered in my father's name and also not completely paid for, at the time of his death ?

Fatwa

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Publication Date

2013-01-25

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Social security
• Mothers
• Dwellings
• Investments
• Savings
• Money
• Agricultural land
• Gold
• Silver
• Inheritance
• Property transfers
• Life insurance
• Ownership
• Distribution(Economic theory)
• Mutual funds
• Siblings
• Fair value

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-733631

• APA
• MLA
• AMA