Shirkah al-milk
Copy URL

Dictionary term

Definition of "Shirkah al-milk"

Lit: Proprietary partnership. Tech: A proprietary partnership occurs when two persons inherit or purchase something together. Neither of them is permitted to dispose off the other’s portion except with the other’s permission. Each of them is considered a stranger in regard to the other’s portion. If the property is divisible and the partners still decide to stick together, the partnership is termed shirkah milk al-ikhtiyariyah. However, if it is indivisible and the partners are constrained to stay together, the partnership is termed as shirkah milk al-jabariyah.

Get access to 300+ modules today and learn from expert trainers...