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Islamic real estate management: review on issues and challenges in managing inheritance property in Malaysia

Shafie, Fazira and Wan Yusoff, Wan Zahari and Syed Abdullah, Syed Muhammad Dawilah al-Edrus (2014) Islamic real estate management: review on issues and challenges in managing inheritance property in Malaysia. In: 7th International Real Estate Research Symposium (IRERS 2014), 29-30 April 2014, National Institute of Valuation (INSPEN), Putrajaya.

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Abstract

Islamic real estate management has become an emerging trend and focus among the researchers. This paper addresses on issues and challenges in managing Islamic inheritance from real estate management perspective. The issues pertaining to the high number of unclaimed inheritance properties and the volume of freezing assets faced by Muslims are increasing in Malaysia. The values of unclaimed assets have increased from RM40 billion in 2009 to RM42 billion in 2011 and subsequently increased to RM60 billion in 2013. These valuable assets have been frozen and become counterproductive. This is a depletion to the nation if the scenario is allowed to continue as the value of these properties which is amounting to billions of ringgit can be used as a source of economy and be able to solve the issue of poverty of the community. The accumulation of unclaimed inheritance properties has become a serious issue that needs to be addressed immediately. Therefore, the study of Islamic inheritance from the real estate management perspective is important to be given a serious attention and finding comprehensive solution and alternatives to overcome this issue. On the other hand, effective management and real estate planning in Islamic inheritance will ensure smooth operation of the estate administration based on the principles and basic concepts that have been created as well as to the existing laws. The research methodology is through identifying and review the issues on existing literatures in managing inheritance property in Malaysia from various dimensions such as law perspective, Islamic and conventional studies. The findings of this study are useful for relevant parties to improve and overcoming the inadequacy of Islamic Real Estate Management especially the inheritance properties.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: inheritance property; Islamic inheritance; Malaysia; real estate management
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD101-1396 Land use
Divisions: Faculty of Technology Management and Business > Department of Real Estate Management
Depositing User: Normajihan Abd. Rahman
Date Deposited: 27 Oct 2014 08:50
Last Modified: 27 Oct 2014 08:50
URI: http://eprints.uthm.edu.my/id/eprint/5617
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