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Khiyar al-Istihqaq


A khiyar (option) which comes into effect if the buyer becomes entitled to the whole object of sale or part of it. Entitlement may be effected before or after the buyer receives the whole object or part of it. In the former situation, the option becomes in effect for the entire object of sale or part of it (in partial entitlement, though, the buyer is given the option of taking the remaining part in exchange for its corresponding percentage in the price. If not, the object of sale will be returned in whole). In the latter situation, the buyer will be given the option provided that the object of sale belongs to the class of non-fungibles (in the case fungibles measured by volume or weight, the buyer will not be given the option).

For partial entitlement, the sale will be rendered invalid for a corresponding part. However, if the division of the object of sale will not be in the interest of the buyer, then he would have the option whether to keep the remaining part against its percentage in the price, or to return it.

Khiyar al-istihqaq is an Arabic term that translates into entitlement option.



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