Journal of Engineering and Applied Sciences

Year: 2017
Volume: 12
Issue: 7
Page No. 1710 - 1714

A Framework Study of Islamic Real Estate Management for Property Inheritance in Malaysia

Authors : Fazira Shafie, Wan Zahari Wan Yusoff and Syed Muhammad Dawilah Al-Edrus

Abstract: This study has discussed on challenges and problem in managing inheritance properties. The biggest challenges is to create awareness of the need for estate planning as many Muslims have the mistaken notion that they need not do anything as their assets will be distributed in accordance with faraid rules. Now a days, the issues pertaining to the high number of unclaimed inheritance properties and the volume of freezing assets faced by Muslims have increased from RM40 billion in 2009-RM42 billion in 2011 and subsequently increased to RM60 billion in 2013. These valuable assets have been frozen and are counterproductive. Planning and managing wealth distribution play an important role to avoid assets from continuously remaining frozen. The accumulations of unclaimed properties inheritance have become a serious issue that needs to be solved immediately. Therefore, there is a need to take a drastic action to find a comprehensive solution and alternatives for solving this issue. Hence, an effective asset management and an efficient of estate planning towards property inheritance must be practiced wisely to ensure a smooth operation of the estate administration based on the principles and basic concepts that have been created as well as to the existing laws. A research methodology for this study is through reviewing and identifying on existing related literatures in inheritance property in Malaysia from various dimensions. This study aims to develop a framework of Islamic Real Estate management for property inheritance in Malaysia. The focuses of estate administration for property inheritance among the Muslim become initial approaches to develop the framework. The proposed framework is structured through questionnaires distributed to community as the main client in order to investigate estate administrators and legal practitioner’s view about the estate administration for property inheritance. The outputs from the respondents will be analyzed. This result is expected to become an initial assessment of estate management critical factors for inheritance property in Malaysia and concurrently contribute to enhance the quality of estate administration and distribution.

How to cite this article:

Fazira Shafie, Wan Zahari Wan Yusoff and Syed Muhammad Dawilah Al-Edrus, 2017. A Framework Study of Islamic Real Estate Management for Property Inheritance in Malaysia. Journal of Engineering and Applied Sciences, 12: 1710-1714.

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