Zakaat on money put into a trust for a house which is not yet on your name

Question ID: 26769

Aslm Mufti Saheb
. I am in the process of buying a house since last year September.
I had to pay a deposit which is still in the lawyers trust account.
The amount of the deposit was R450,000.00
The house In Sha Allah will be transferred onto my name soon but at the moment it is not mine.
I pay my zakaat annually in Ramadaan.
My question is:
If the house is not yet transferred onto my name when my zakaat is due do I take out zakaat on the R450,000.00?
I also have debt amounting to about R115,000.00
. Jazaka Allah

Marked as spam
Asked on June 11, 2014 5:51 pm
Private answer

You do not include the 450,000 but 115,000 is liability. If you are paying it out in installments then at the time of calculation there is no amount to be subtracted as liability.

Marked as spam
Answered on June 11, 2014 5:51 pm