What is the ruling regarding the option if the party holding the option dies?
Chapter on the Option of the Two Parties in Sale
Al-Mughni
Book of Sales
Primary text
The established doctrine states that the option of the deceased party is nullified upon their death, while the option of the other party remains valid as it was. However, if the deceased party had demanded nullification before their death, their heirs inherit that demand. This position is attributed to Al-Thawri and Abu Hanifa. Evidence supporting the inheritance of the option is that it is a financial right, which transfers to the heirs, similar to a deferred payment period or the option to return due to a defect.
Supporting text
An alternative view, held by Malik, Al-Shafi'i, and supporting our position, suggests that the option does not become nullified but rather transfers to the heirs because it is a right to annul the sale. This is analogous to the right of rejection due to defect or annulment upon mutual swearing. The basis for nullification without inheritance is that the option is a right of annulment for which no substitution is allowed, thus it is not inherited, similar to the option to revoke a gift.