The ruling on the Sale of Shares when the Ownership is shared
Question :
What is the ruling on the sale of shares when the ownership is shared on a piece of land whose borders, area, place and possession are specified by the mandates of a deed that confirms the joint sharing in its ownership and specifies the amount of these shares in reference to all of the land?
Answer:
There is no harm in the circulating of shares that are jointly owned in real estate whose borders, area and place are all specified, as long as the person's percentage is known. For example, if his percentage is a fourth of the land or an eighth of it or four tenths of it and so forth. There is no harm in it being changed by buying, selling, being given as a gift, inheritance, mortgaged collateral and other than that from the rights of legislated exchange concerning what a man owns. This is due to there being no legislated prohibition concerning that.
May Allah send blessings and peace upon Muhammad, his family and his Companions.
Source:
The Permanent Committee
Fatawa Islamiyah, Vol. 4 Page 381
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