After marriage, who pays zakat on gold?

[queer]

Re: After marriage, who pays zakat on gold?

@psyah

Peace queer

1.Let’s do a quick comparison a 5% apr mortgage over 20 years for a property valuing in at £200, 000 will cost in total £388,233 that is a total of £188,223 in interest, taking 33 years for repayments of £1000 per month.

Conversely those who save up will only be paying 2.5% of their annual saving. If the price of the house is £200,000 and they can save £1000 each month, then that comes to a total zakat giving of £59,000 over 22 years to save up to £205,000 …

not quite.

the first person lives in his own home for these 22 years. the second person still pays rent for 22 years to a third party. rent amounts are comparable with monthly mortgage payments.

at the end of 22 years, first party owns his home, second party owns his home, and has spent more than double the money on it all.

2. Doesn’t apply the pricier the mortgage the juicier will be the interest and harsher consequences of defaulting that is if the bank allows them to take a bite of the elephant in the first place.

not true again. the interest rate, in the US at least, does not depend on the size of your mortgage but your credit score. if you don’t have sufficient means to make the monthly mortgage payment, the bank will deny you the mortgage. but if this is a rich person trying to avoid zakat payment, thats not an issue.

basically what you are saying is, look i’ll keep the house, but treat the loan on it as a liability, as if i dont have anything to show for it. that is not true. your house is as much an investment vehicle that can lose and gain value as say, stocks or gold. if you decide not to include it in your assets, you shouldnt include the liability associated with it to get yourself a break from zakat.