Overview
Hibah and Wasiat are two important instruments in property planning which must be structured in accordance with Islamic law. Hibah is a grant of property (movable or immovable) that occurs during the life of the Donor, while Wasiat is a gift of property that occurs after the death of the testator.
HIBAH
A benevolent contract of an offer and acceptance (ijab and qabul), between the donor and the donee (the recipient), wherein the donor transfers the possession (qabd) of the property (the gift) to the donee without any consideration and the transaction takes full effect during the lifetime of the donor.
WASIAT
A declaration made by a Muslim during his lifetime in respect of his property and benefit thereof for the purpose of charity or any lawful reason as defined by Syariah and is carried out after his death. Further, the recipient of the Wasiat is confined to Muslims only. If the heir of the deceased is listed as one of the recipients of Wasiat, the consent of all the other heirs of the deceased must also be obtained.
In Islamic law, the portion of property that can be bequeathed by a testator to non-heirs is limited to one-third of the net assets available at the time of death i.e. after deducting the amount used for the testator’s funeral expenses and debt settlement (if any).
Other than that, by preparing Wasiat, the testator may appoint an Executor to administer the estate and a trustee for minors.
However, in the case of Hibah, there is no restriction or maximum on the amount of the Hibah property which can be granted by a donor, and the donee of the Hibah is not confined to Muslims only.
Both of these instruments are encouraged in Islam and must be done meticulously in accordance with the requirements of Hukum Syara’, so that, all disputes and property disagreements can be prevented.
OUR SERVICES
— Legal Consultation prior to the drafting of Hibah Declaration and Wasiat
— Drafting of Hibah Declaration and Wasiat
— Preparation of documents to obtain Sijl Pengesahan Hibah
— Execution of Hibah Declaration and Wasiat
— Safekeeping of Hibah Declaration and Wasiat documents
— Appointment of Executor (Wasi) or Trustee