QUESTION:
We inherited a family business from our deceased father, who has unsettled money due to me. I owe my late father’s heirs money. Can I offset the business debt with the money owed to me?
ANSWER:
Yes, it is permissible on condition that there is mutual consent between all the parties involved.
يَا أَيُّهَا الَّذِينَ آمَنُوا لَا تَأْكُلُوا أَمْوَالَكُم بَيْنَكُم بِالْبَاطِلِ إِلَّا أَن تَكُونَ تِجَارَةً عَن تَرَاضٍ مِّنكُمْ ( النساء آ : 29)
O you who believe! Do not unjustly consume the wealth of each other but by way of trade with your mutual consent.
ALLAH TA’ALA ALONE KNOWS BEST!
ANSWERED BY:
Maulana Abdul Kader Fazlani
Date: 12 Ramadaan 1445 / 23 March 2024
CHECKED AND APPROVED BY:
Mufti Mohammed Desai
