Islamic legal theory of joint ownership of property in commercial and non-commercial spheres

• Main Author: Sadique, Muhammad Abdurrahman
• Format: Conference or Workshop Item
• Language: English
• Published: 2020
• Subjects: BP322.3 Musharakah - Partnership; HG3368 Islamic Banking and Finance; K720 Property Law; KBP639 Muʻāmalāt
• Online Access: http://irep.iium.edu.my/86377/1/KLiCELS16_036%20Theory%20of%20joint%20ownership%20MA%20Sadique.pdf; http://irep.iium.edu.my/86377/; https://www.klicels.org/proceedings/

Shirkah al-milk or joint ownership in Islamic law may take place in commercial and non-commercial spheres, where an asset, right or usufruct is jointly claimed by more than one party, such as through the joint ownership of a house, vehicle etc. This form of joint partnership or joint ownership is subject to detailed rules and provisions as discussed in Islamic law, pertaining to the nature and scope of their rights and liabilities, how they may derive benefit from the jointly owned asset or entity through utilization etc., how the asset should be maintained and the role of the joint owners therein, regarding any contract that may take place with regard to the jointly owned entity, through its sale either entirely or partly or through it being offered as a mortgage etc. and a host of related rules. As is the norm is Islamic law, these rules are all deduced and derived through an intricate process by the use of highly systematic methodology from the holy Qur’an and prophetic traditions, where the schools of Islamic law differ in some details due to variations in their methodology. The purport of this paper is to provide a comparative analysis of the rules and provisions pertaining to joint proprietorship as found in the authoritative works of the schools of Islamic law with regard to its major areas, while providing a summary of the rules of the type of commercial partnership called ‘inan, by way of comparison.