Second Properties – Islamic Law

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  • #39395
    benster
    Participant

    Advice would be welcome!
    We have a customer whose partner has a 1/4 share in two properties in Egypt we have counted the deemed share and they are appealing.
    we had decided since no one lived in the properties , not for sale and not rented out we would count the capital.
    They state that the share cannot be sold due to Islamic law and the rules on inheritance and so it is not capital they can realise and should not be counted.( this has not been verified )
    I still think it cannot be disregarded under the normal categories but does anyone think otherwise before i take the plunge- I have a nagging feeling – Capital outside the UK where the countries laws say that money cannot be brought out?

    Thanks

    #111988
    Kevin D
    Participant

    You need to apply the law for the country in which the property is situated. So, er, good luck with that search for Egyptian law….

    NB: “Islamic law” isn’t necessarily relevant in itself. What matters is the enforceable law of the country, not something that is solely belief based. That may or may not enshrine elements of “Islamic law”.

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