Fiqh 1-Classification of Property
CLASSIFICATION OF PROPERTY
VALUABLE AND NON-VALUABLE
MOVABLE AND IMMOVABLE
SIMILAR AND DISSIMILAR
USABLE AND PERISHABLE
DEFINITION
VALUABLE
-Valuable property includes all permissible things that are possessed and secured
NON VALUABLE
- Non Valuable property includes all those things which are prohibited by Shariah
MOVABLE
- Movable property is a property that can be moved from one place to another
IMMOVABLE
- Immovable property is a property that is permanently fixed to the land, is immovable.
SIMILAR
-Homogenous property that if it happens to perish, we can replace with something similar or equal with it. We can find this property with the same market value. This properties are sold by unit of weight (gram), by metric measure (liter), by measurement (meter) or by numbers (dozens)
DISSIMILAR
- Non homogenous property which has no subtitudes in the market. If it has subtitudes, the market value is still different.
USABLE
-Property that will remain even after it is used
PERISHABLE
-Property that cannot survive after it has been consumed or used. Perishable properties are homogenous properties most of the time.
CONSEQUENCES
NON VALUABLE
- It considers the permissibility of subject matter of the property.
-The property cannot be owned and secured until they come to the possession of an individual.
-Any transactions that involves gharar element is considered void.
IMMOVABLE
1. The right of pre-emption (shuf'ah) -When a person wants to sell his immovable property such as house, the owner or the neighbours have a priority to buy that house provided that they have intention to buy that house and agreed with the price. The objectives are to avoid harm to neighbours and hardships.
2. In the case of bankruptcies -A person leaves with many debts and the court has declared him bankrupt. Therefore the court will sell his movable properties or ask him to sell his movable properties first to settle his debt. If the movable
VALUABLE AND NON-VALUABLE
MOVABLE AND IMMOVABLE
SIMILAR AND DISSIMILAR
USABLE AND PERISHABLE
DEFINITION
VALUABLE
-Valuable property includes all permissible things that are possessed and secured
NON VALUABLE
- Non Valuable property includes all those things which are prohibited by Shariah
MOVABLE
- Movable property is a property that can be moved from one place to another
IMMOVABLE
- Immovable property is a property that is permanently fixed to the land, is immovable.
SIMILAR
-Homogenous property that if it happens to perish, we can replace with something similar or equal with it. We can find this property with the same market value. This properties are sold by unit of weight (gram), by metric measure (liter), by measurement (meter) or by numbers (dozens)
DISSIMILAR
- Non homogenous property which has no subtitudes in the market. If it has subtitudes, the market value is still different.
USABLE
-Property that will remain even after it is used
PERISHABLE
-Property that cannot survive after it has been consumed or used. Perishable properties are homogenous properties most of the time.
CONSEQUENCES
NON VALUABLE
- It considers the permissibility of subject matter of the property.
-The property cannot be owned and secured until they come to the possession of an individual.
-Any transactions that involves gharar element is considered void.
IMMOVABLE
1. The right of pre-emption (shuf'ah) -When a person wants to sell his immovable property such as house, the owner or the neighbours have a priority to buy that house provided that they have intention to buy that house and agreed with the price. The objectives are to avoid harm to neighbours and hardships.
2. In the case of bankruptcies -A person leaves with many debts and the court has declared him bankrupt. Therefore the court will sell his movable properties or ask him to sell his movable properties first to settle his debt. If the movable