{"id":3894,"date":"2022-09-27T10:06:53","date_gmt":"2022-09-27T08:06:53","guid":{"rendered":"http:\/\/themufti.com\/?p=3894"},"modified":"2022-09-27T10:06:53","modified_gmt":"2022-09-27T08:06:53","slug":"offering-a-loan-with-collateral","status":"publish","type":"post","link":"https:\/\/themufti.com\/?p=3894","title":{"rendered":"Offering a loan with collateral"},"content":{"rendered":"<h4><strong>Offering a loan with collateral<\/strong><\/h4>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Q. A friend wants to give me his vehicle for 1 Million Rand and he will pay me after one year. When he pays me back, I must return the vehicle to him. Is this correct?<\/strong><\/p>\n\n\n\n<p><strong>A.<\/strong> The scenario in question can take one of two forms:<\/p>\n\n\n\n<p>a. Party A (debtor) <strong>sells<\/strong> his vehicle to Party B (creditor) in lieu of R1 Million.<\/p>\n\n\n\n<p>In that case, Party B is the owner of the vehicle and may do as he wishes with the vehicle. Party B is not bound to sell the vehicle back to Party A when Party A is ready to \u201cpay back\u201d.<\/p>\n\n\n\n<p>b. Party A (debtor) takes a <strong>loan<\/strong> from Party B (creditor) in lieu of R1 Million and Party A leaves a vehicle as <strong>collateral (Rahn)<\/strong> by party B (creditor).<\/p>\n\n\n\n<p>In that case, Party A remains the owner of the vehicle and Party B must return the vehicle when Party A repays the loan.<\/p>\n\n\n\n<p>Accordingly, the nature of the transaction must be specified before the parties enter into a transaction. <strong>(Al-Ikhtiyaar 2\/25 &#8211; Ahsanul Fataawa 6\/507 &#8211; Jadeed Fiqhi Masaail 1251\/252)<\/strong><\/p>\n\n\n\n<p><strong>Allah Ta\u2019ala Knows Best<\/strong><\/p>\n\n\n\n<p><strong>Mufti Ismaeel Bassa<\/strong><\/p>\n\n\n\n<p><strong>themufti.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Offering a loan with collateral Q. A friend wants to give me his vehicle for 1 Million Rand and he will pay me after one year.<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":7,"featured_media":3895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61],"tags":[],"class_list":["post-3894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade"],"_links":{"self":[{"href":"https:\/\/themufti.com\/index.php?rest_route=\/wp\/v2\/posts\/3894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/themufti.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/themufti.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/themufti.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/themufti.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3894"}],"version-history":[{"count":1,"href":"https:\/\/themufti.com\/index.php?rest_route=\/wp\/v2\/posts\/3894\/revisions"}],"predecessor-version":[{"id":3896,"href":"https:\/\/themufti.com\/index.php?rest_route=\/wp\/v2\/posts\/3894\/revisions\/3896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/themufti.com\/index.php?rest_route=\/wp\/v2\/media\/3895"}],"wp:attachment":[{"href":"https:\/\/themufti.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/themufti.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/themufti.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}