Question:
On October 2014 I sold part of my piece of land, after I put down our house for 40 years to the ground, and I received from the buyer about $200,000. So I can build a smaller house, and use the balance for our daily expenses for the rest of our life, because I do not have other income since 2003. Our children supported us since then.
My question : do I have to pay zakat based on $200,000 or based on the balance after I build our new house? Thank you.
salam
Answer:
Your question makes no sense because you use the past sense for a future date.
If you mean October 2013, then you do not have to pay zakat on that amount because you have not owned it for a full year yet. Zakat is owned only on money which you have possessed in full for an entire year.
Hajj Gibril Haddad
