What Happens to Your Home When You or Your Loved Ones Pass On?
Understanding Faraidh is essential for Muslim property owners.
And property being a high regard asset in Singapore makes it all the more crucial to have proper planning to help ensure that your property is distributed in a manner that honors both your wishes and religious obligations.
We hope to assist you by applying our years of experience in real estate and delicately handling similar faraid requirements.
Successfully assisted families delicately traverse technical and sentimental requirements
Successfully assisted families delicately traverse technical and sentimental requirements
WHAT IS FARAIDH?
Faraidh, also known as the Islamic Law on Inheritance, governs the distribution of a deceased person’s assets (the estate) to their heirs according to Allah’s decree as outlined in the Holy Quran and the teachings (hadith) of the Prophet Muhammad.
In Arabic, it is referred to as ‘Al-Faraidh,’ which literally means fixed portions. This term specifically refers to the predetermined shares allocated to lawful heirs as determined by Shari’ah law.
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Faraid, also known as the Islamic Law on Inheritance, governs the distribution of a deceased person’s assets (the estate) to their heirs according to Allah’s decree as outlined in the Holy Quran and the teachings (hadith) of the Prophet Muhammad.
In Arabic, it is referred to as ‘Al-Faraid,’ which literally means fixed portions. This term specifically refers to the predetermined shares allocated to lawful heirs as determined by Shari’ah law.
Faraidh, also known as the Islamic Law on Inheritance, governs the distribution of a deceased person’s assets
Faraidh, also known as the Islamic Law on Inheritance, governs the distribution of a deceased person's assets
LIST OF FARAIDH ASSETS
PROPERTIES
Under Faraidh, properties owned by the deceased, such as residential homes, commercial buildings, or land, are considered part of the estate. These assets are distributed according to the fixed shares outlined in the Quran. For example, if the deceased leaves behind a house, it will be divided among the rightful heirs (e.g., spouse, children, parents) based on their prescribed shares. In Singapore, if the property is jointly owned, only the deceased’s share is subject to Faraidh distribution.
CPF
CPF savings are considered part of the deceased’s estate and are subject to Faraidh. Nomination of CPF funds is allowed in Singapore, but for Muslims, the nomination must comply with Islamic inheritance laws. If no nomination is made, the CPF savings will be distributed according to Faraidh by the Syariah Court. This ensures that the funds are allocated to the rightful heirs in their fixed shares.
INVESTMENT
Investments such as stocks, bonds, unit trusts, or other financial instruments are included in the estate and distributed under Faraidh. The value of these investments at the time of the deceased’s passing is calculated, and the proceeds are divided among the heirs according to their prescribed shares. Proper documentation and valuation are essential to ensure fair distribution.
INSURANCE
Insurance payouts are subject to Faraidh if the policyholder is a Muslim. In Singapore, a Muslim policyholder can nominate beneficiaries, but the nomination must align with Islamic inheritance principles. If no valid nomination is made, the insurance proceeds will be distributed according to Faraidh. This ensures that the payout is divided among the rightful heirs as per their fixed shares.
BANK SAVINGS
Bank savings, including fixed deposits and current accounts, are part of the deceased’s estate and are distributed under Faraidh. The total amount in the bank accounts is calculated, and the funds are divided among the heirs according to their prescribed shares. In Singapore, the Syariah Court oversees the distribution to ensure compliance with Islamic law.
CASH
Cash assets, whether kept at home or in a safe, are included in the estate and distributed under Faraidh. The total amount is calculated and divided among the rightful heirs based on their fixed shares. Proper documentation and transparency are crucial to avoid disputes among beneficiaries.
JEWELLERIES
Jewelleries, such as gold, diamonds, or other precious items, are considered part of the estate and are subject to Faraidh. These items are valued at the time of the deceased’s passing, and their worth is distributed among the heirs according to their prescribed shares. In some cases, physical division of the items may occur if agreed upon by the heirs.
VEHICLES
Vehicles owned by the deceased, such as cars, motorcycles, or boats, are included in the estate and distributed under Faraidh. The market value of the vehicles is assessed, and the proceeds (if sold) are divided among the heirs according to their fixed shares. Alternatively, the heirs may agree to transfer ownership of the vehicle to one heir, with compensation given to others based on their shares.
How will the Properties be managed and distributed ?
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