What is the status of a specific asset held by a bankrupt individual when the sale price for that asset is a deferred debt?
General Chapter
Al-Mughni
Book of the Insolvent (Bankruptcy)
Primary text
When a person goes bankrupt (*iflas*) and holds an asset whose sale price is a deferred debt, and it is maintained that the debt does not become due immediately upon bankruptcy, the ruling according to Ahmad in the narration of Hasan ibn Thawab is that the owner's right to the asset remains suspended (*mawquf*) until the deferred debt matures. At maturity, the seller then chooses either dissolution (*faskh*) or relinquishment (*tark*). This view is held by some of Al-Shafi'i's companions.
Supporting text
The established position (*al-mansus*) of Al-Shafi'i is that the asset is sold to settle all debts, including the deferred ones. A supporting rationale suggests that current rights (*huquq halah*) take precedence over deferred debts, similar to a creditor who cannot find the specific asset. Furthermore, the right of this seller is attached to the specific asset, granting it precedence over others, even if the debt is deferred, analogous to a pledgee or the injured party.