Hibah
Hibah Definition
Hibah (gift) is the granting ownership of property from one party to another without any obligation in return that documented and stated by the owner voluntarily, not meant to glorify anybody and given by reciting an ijab and qabul or any evidence of a grant of acceptance.
TERMS OF HIBAH HARTANAH MAAB
Donor (Property Owner)
A Muslim individual who is 18 years of age and above, sane and has full control over his property.
Beneficiary
Individual or any eligible person (muslim or non muslim) subject to syaria laws and Malaysian laws and willing to accept the said hibah property
Property
The property must be debt-free and the owner has full ownership, no restriction of transferability and shall be transferable.
Sighah (Ijab & Qabul)
All parties willingness to enter into the contractual Hibah agreement which therefor constitutes the contract itself. Sighah means the giving consent and acceptance.
Our Hibah Services
HIBAH HARTANAH
Hibah Hartanah is the gift of hibah property, ie real estate through the concept of hibah and trust by the hibah giver during his life to the hibah recipient on the basis of love and voluntarily without expecting any return. The grant is through Ijab and Qabul (sighah) in the Hibah/Trust Deed document which provides the agreed terms and conditions and is effective immediately upon completion.
Term Of Property for HIBAH HARTANAH
- The property is the absolute property of the Donor and can be granted based on the Shariah.
- Subject to any law relating to land and building matters.
- The donated property is not subject to financing, any collateral or restrictions.
- Donor and beneficiary recipients must fulfill the pillars of property hibah.
Benefits Of Hibah
Property
- The Donor has full power to nominate any person including non-muslim as beneficiaries.
- The Property Hibah are NOT SUBJECT TO ESTATE and any person are allowed to be the beneficiary/ies.
- Property that has been endowed in a proper manner cannot be claimed by other heirs and the implementation of the hibah is without going through the process of Estate Administration.
- The Donor will continue the ownership of Asset and remain full authority of the Asset until end of his life
- The transfer of ownership will be executed after the death of the Donor.
HIBAH SAHAM KOPERASI
MAAB collaborates with Cooperatives who are interested in offering an Estate Planning instrument for Shariah-compliant Cooperative Shares which applies the concept of Hibah and Trust compared to the previous Nomination concept.
Hibah Amanah Saham Koperasi offered by MAAB, in which the shareholder / Penghibah will donate his cooperative shares to the Hibah Recipient and will be transferred to the Hibah Recipient upon the death of the Hibib. However, this cooperation requires the cooperative to review and amend the Cooperative By-Laws for the implementation of this Hibah if necessary.
Terms Of Share Hibah Saham Koperasi
- The said cooperative’s shares must totally owned by the Donor.
- Subject to Cooperative’s By Law (Nomination).
- The shares will not subject to faraid laws, and any person are allowed to be the beneficiary/ies.
- The minimum value of amount is RM 1,000.00.
Benefits Of Hibah
- Hibah of shares are not subject to estate administration and faraid law and regulations.
- Hibah of shares will be the absolute right of the recipient and cannot be claimed by other heirs whose not named in the Hibah document.
- Simplified yet absolute transfer of cooperative shares belonging to the deceased to the beneficiaries.
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