zakat is due on property whose ownership has not yet become firmly established, such as the debt owed under a kitāba (manumission) contract, because the mukātab (contracted slave) may declare himself incapable of payment and refuse to perform.

Fifth condition: the passing of one lunar year over the wealth. ʿĀʾishah (may Allah be pleased with her) related: “No zakat is due on any wealth until a year has passed over it,” a report recorded by Ibn Mājah, and al-Tirmidhī transmitted the same in meaning.

This requirement does not apply to what the land brings forth—grain and fruit; on such produce zakat becomes obligatory as soon as it exists, and no year is considered. The completion of a year remains a condition, however, for cash, livestock, and trade merchandise, as a concession to the owner so that their growth may be realized.

The offspring of zakat-liable livestock and the profit of trade follow the zakat-year of their principal; a separate year is not required if the principal had already reached the nisab. If it had not, the year is counted from the moment their total reaches the nisab.

If a person is owed a debt by someone who is insolvent, he pays zakat on it for one year only, and that upon receiving it, according to the sound view. If the debt is owed by a solvent, willing debtor, he must pay its zakat every year.

Assets set aside for personal possession and use are exempt from zakat: residential houses, everyday clothing, household furnishings, cars, and riding animals kept for personal use.