Is Zakah due on property purchased for trade when a pre-emptive right (Shufa'a) exists?
Chapter on Zakat on Trade Merchandise
Al-Mughni
Book of Zakat
Primary text
Zakah is obligatory on the full value of the purchased property if a full Hawl (lunar year) passes while it is in the buyer's possession, even if the property is later taken by the pre-emptive claimant (Shafi' for the original purchase price). The Zakah is due upon the buyer because the obligation arose while the property was under his ownership. If the Shafi' exercises his right, he takes it for the agreed price, not the current market value. If the buyer returns the property due to a defect, he takes back the original purchase price.
Supporting text
If the property was bought for a higher price than its current value when the Hawl passed, Zakah is due only on the current market value, and the Shafi' takes it at the original purchase price, while returning it due to a defect for the original purchase price.