of the investment partnership a share in property over which either he or the investor has a right of pre-emption. If the investor holds that right, the funds belong to him, so he cannot have a right of recourse recorded against himself. If the investment manager holds it, he may not make the investor liable for recourse concerning something he purchased with the investor’s funds.

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If the purchaser resells the share, the pre-emptor may take it from either purchaser and have his right of recourse recorded against that person. Likewise, Ashhab said that if all the pre-emptors except one are absent, and that one takes the entire share by pre-emption, then one of the absent pre-emptors returns, the latter may choose to have his right of recourse recorded against either the purchaser or the first pre-emptor. Since he could choose from whom to take the share, he is like someone purchasing from the purchaser. If a third pre-emptor returns, he may have his right of recourse recorded against the purchaser, against the first pre-emptor, or against both the first and second pre-emptors. It has been said that Ashhab’s position differs from Ibn al-Qāsim’s, according to whom recourse may be recorded only against the purchaser. I do not consider this correct. Rather, Ashhab’s statement explains Ibn al-Qāsim’s position, Allah willing. Allah grants success.

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There is disagreement over taking property by pre-emption: some say it is treated as a sale, while others say it is treated as recovery of property by its rightful owner, with respect to the rulings particular to each.

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The right of pre-emption is inherited: the heir takes the deceased’s place in his right either to exercise it or to relinquish it. This applies whether the deceased still possessed the share giving rise to that right when he died, so that the heir inherited it from him, or died after selling that share—according to the view that selling it does not extinguish his right of pre-emption. This right may neither be sold nor given away. Asbagh is reported in al-Wādiha to have said that, if a share is sold over which several people have a right of pre-emption, and all but one relinquish that right, while the remaining pre-emptor wishes to take the entire share, then, if their relinquishment was by way of