Jurnal Kajian Hukum dan Sosial
Vol 18 No 1 (2021)

Pre-Project Selling in a Property Business: The Perspective of Islamic Law

Agus Sekarmadji (Faculty of Law, Universitas Airlangga)
Regine Wiranata (Faculty of Law, Universitas Airlangga)
Oemar Moechthar (Faculty of Law, Universitas Airlangga)



Article Info

Publish Date
09 Feb 2021

Abstract

Actors in the real estate market have developed a marketing strategy in the form of pre-project selling. This strategy is conducted to perform a market test for any property a developer intends to market. However, in practice, the system often poses problems, such as misrepresenting the property and inflicting customers' financial losses. From the perspective of Islamic law, this type of transaction is characterized as gharar (uncertainty, deception, and risk), having no exact object, and having forbidden. This article uses a Sharia-based perspective to analyze the characteristics of pre-project selling. This research aims to determine the legality of pre-project selling under Sharia law and prescribe solutions for society. The method used in this article is legal research, using legislation-based, conceptual, and case-based approaches, along with a comparison of national legislation with the written text of the al-Qur’an and hadith. The paper concludes that while pre-project selling should not be legally banned, there need steps taken to reduce its risks. This could be applied, for example, by creating minimum prerequisites for allowing pre-project selling, such as the existence of a plot for construction or the requirement of permits to be obtained before the pre-project sale. This research contributes to the development of legal science in general and Islamic jurisprudence, especially regarding Islamic law agreements' validity.

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Journal Info

Abbrev

justicia

Publisher

Subject

Religion Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

Description

The journal aims to advance knowledge in Islamic legal studies within Muslim societies from various perspectives, enriching both theoretical and empirical research. It covers a range of subjects, including in-depth studies of living law in Muslim communities, legal negotiations on human rights, and ...