What is the determining time for the value when the sale is subject to an option (khiyār)?
General Chapter
Al-Mughni
Book of Preemption (Shuf'ah)
Primary text
The value is considered at the time the option expires and the contract becomes firm (istiqrār al-'aqd). This is because that moment constitutes the time of entitlement for the right of preemption (shuf'ah). This view is held by Al-Shafi'i.
Supporting text
A narration attributed to Malik suggests that the right of preemption is exercised based on the value at the time of the court judgment (al-muḥākamah). This view is considered incorrect because the time of entitlement is the time of the contract; any increase occurring after that time belongs to the property of the seller and cannot be accounted for on behalf of the one exercising preemption, and any decrease belongs to the seller's property, thus it cannot diminish the right of the one claiming preemption.