...if it was suddenly worth a life changing sum of money? Especially if its something that is very near and dear to your heart.
No. Some things are irreplaceable and priceless.
2 Likes
Brain versus heart, choose which ever is best
No.
I will most definitely sell it if I have no plan or cannot afford to be the sole owner of such a property. I will not:
A- Create problems for someone else who wants to be the sole owner by hanging on to it.
B- Treat it as a fixed deposit to cash out at a higher value at a later date.
C- Use delaying tactics to achieve more than anything that is my Islamic right.
Now if I plan to be the sole owner, I will further decide based on:
1- Can I financially afford to become the sole owner?
1a- Do I even understand how much it will cost me including fees to lawyers, taxes, utility bills, maintenance and upkeep?
2- Will I be living within commutable distance of this property to overlook various aspects of it?
2b- If not, then how will I manage it and how much will it cost to try to manage it remotely?
3- Am I willing to take all sorts of risks for it, such as the risk of ruining relations with some of my closest relatives who may have competing point-of-views?
3b- How much support for my plans exists among those who are close to me?
3c- Do I even realize the legal risks my plan has and what plan do I have to mitigate them?
4- Is it really smart to hang on to the past at the cost of risking my future?
Nope. I cannot even part with non-heirloom items that are dear to me. To do what you're asking would be door ki baat.
[quote=““Le Pakistan””]
No. Some things are irreplaceable and priceless.
[/quote]
Even if they were suddenly worth, I don’t know, whatever is in your opinion a life changing sum of money? Could be 7, maybe even 8 figures? USD Of course.
On one hand, it’s an inanimate object that reminds you of a loved one. On the other hand, it could potentially mean your early retirement and a lifetime of easy living, what then?
[quote=““The Last Straw””]
Nope. I cannot even part with non-heirloom items that are dear to me. To do what you’re asking would be door ki baat.
[/quote]
Not even for a 7, maybe even an 8 figure pay-day? USD, of course.
I wasn’t talking about real estate specifically. More like an extremely rare collectible; like a collection of wrist watches, a coin collection or a (collection of) vintage car(s).
In that case my decision will depend upon various similar concerns as I’ve mentioned about real estate. Watches and coins made of gold and diamonds need zakat to be paid on them every year but I will most definitely keep them because other than that they need minimal commitment of time from me. A vintage car on the other hand not only requires money to be spent on storage and maintenance, but serious time commitment so I’ll get rid of it. There are lots of things to consider before I would make up my mind on such things.
2 Likes
Wrist watches maybe, but collectible coins are rarely, if ever, made of precious metals, unless commemorative. However, I’m not sure on zakat rules regarding rare collectibles that suddenly have any amount of face value among a select group of people or individuals.
Vintage cars on the other hand do require some TLC and storage costs are mostly negligible, usually a few thousand annually but I get your point. I’d too sell a family heirloom if it was suddenly worth a lot of money, as opposed to it just wasting away in my possession. I’m not the sort of person that has sentimental attachment to material or inanimate things, so I’d rather cash out than sit on it.
Brain versus heart. What outweighs which is what you ask yourself, and then you move forward. Any decision that gets you less regrets in life down the line needs to be prioritized here
As much as I could try and help being nothing but a stranger with my input, it literally means absolutely nothing to somebody (in this case you) who is aware of the history behind the said object
No, I don't want to have to regret it down the lane. I have immense proclivity towards my ancestry to begin with, then throw in some personal/ emotional value to the batch and it's a major no.
There has to be an amount of money that would make you change your mind. A million dollars? Or several millions of dollars perhaps?!
Even if it’s financially valuable, I’d still save it so it could benefit my later generations, while I hold my patience. Phir unkee marzi.
Like exo said, it really depends on sentiment or person associated with the heirloom. For example, an heirloom from a grandaunt that never looked at me twice, will never come close to the heirloom from my nanijaan who kissed my hands whenever she saw me.
I usually lead my life by heart because it gives me the least of regrets.
Personally, I don’t see any real reason to hold on to things that might remind me of a loved one who has passed on.
My grandfather left behind a pretty sizeable collection of vintage Swiss watches that he had bought over the years. I cherish them because I have a thing for wrist watches and he knew that, which is why he left them behind for me in the first place. If it hadn’t been for this, I’d have sold them off, considering how insane the watch market is at the moment, especially for certain brands like Rolexes and Patek Philippe’s. We’re talking hundreds of thousands of dollars each.
That being said, I would never look down on someone that might think otherwise.
2 Likes
Well, emotion doesn’t use logic and having more than one [e.g watches] will certainly be a different scenario because you can sell some and keep some. I assumed the said object to be one, irreplaceable and perhaps even antique. But yes, to each his own.