Question
One of our partners in a business has died. What is the ruling of the Shariah?
Answer
When a partner dies, it is then Waajib to immediately assess the amount of his share in the business. That amount has to be compulsorily transferred to his heirs.
The partnership with the deceased terminates with death. His heirs do not have the automatic right of becoming partners. If they desire to become partners and if the existing partners are willing, then a new contract has to be arranged with them.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 27 No 05
- PDF page
- 8
Appears under ZAKAAT ON ANIMALS (approximate).