Al-Marsad Right as a Mechanism for Developing and Investing in Urban Waqf Properties in Algerian Legislation
The Al-Marsad (observatory) contract holds significant importance as a means for developing and investing in urban Waqf (endowment) lands. It serves as an exception when the endowment lacks the resources to independently develop the land. Under this right, private capital can be utilized, with the p...
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Social Sciences University of Ankara
2024-12-01
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| Online Access: | https://dergipark.org.tr/tr/download/article-file/4129143 |
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| author | Djelloul Mehda |
| author_facet | Djelloul Mehda |
| author_sort | Djelloul Mehda |
| collection | DOAJ |
| description | The Al-Marsad (observatory) contract holds significant importance as a means for developing and investing in urban Waqf (endowment) lands. It serves as an exception when the endowment lacks the resources to independently develop the land. Under this right, private capital can be utilized, with the proceeds from construction benefiting the Waqf. The observatory owner can recover their construction expenses along with profits. Importantly, the investment value remains a debt secured by the Waqf. Unlike direct ownership, the observatory right is not a real property right stemming from Waqf ownership. Instead, it is a unique personal right that allows the owner to exploit the building, transfer it to others, and pass it on to heirs within the bounds of creditor rights. Although it intersects with provisions related to newly established exploitation contracts, its distinct nature makes it an effective method for developing and investing in Waqf properties, necessitating legislative regulation |
| format | Article |
| id | doaj-art-1855e24333cc4db2b310269808d46c86 |
| institution | Kabale University |
| issn | 2757-5616 |
| language | Arabic |
| publishDate | 2024-12-01 |
| publisher | Social Sciences University of Ankara |
| record_format | Article |
| series | Atebe |
| spelling | doaj-art-1855e24333cc4db2b310269808d46c862025-01-12T20:25:19ZaraSocial Sciences University of AnkaraAtebe2757-56162024-12-011215118010.51575/atebe.15296941802Al-Marsad Right as a Mechanism for Developing and Investing in Urban Waqf Properties in Algerian LegislationDjelloul Mehda0https://orcid.org/0000-0002-6225-9072droitThe Al-Marsad (observatory) contract holds significant importance as a means for developing and investing in urban Waqf (endowment) lands. It serves as an exception when the endowment lacks the resources to independently develop the land. Under this right, private capital can be utilized, with the proceeds from construction benefiting the Waqf. The observatory owner can recover their construction expenses along with profits. Importantly, the investment value remains a debt secured by the Waqf. Unlike direct ownership, the observatory right is not a real property right stemming from Waqf ownership. Instead, it is a unique personal right that allows the owner to exploit the building, transfer it to others, and pass it on to heirs within the bounds of creditor rights. Although it intersects with provisions related to newly established exploitation contracts, its distinct nature makes it an effective method for developing and investing in Waqf properties, necessitating legislative regulationhttps://dergipark.org.tr/tr/download/article-file/4129143vakıfvakıf i̇stismarımarsad hakkıvakıf mütevellisimarsad hakkı sahibiwaqf exploitationthe right of al- marsadthe trustee of the waqfthe owner of the right of al- marsad |
| spellingShingle | Djelloul Mehda Al-Marsad Right as a Mechanism for Developing and Investing in Urban Waqf Properties in Algerian Legislation Atebe vakıf vakıf i̇stismarı marsad hakkı vakıf mütevellisi marsad hakkı sahibi waqf exploitation the right of al- marsad the trustee of the waqf the owner of the right of al- marsad |
| title | Al-Marsad Right as a Mechanism for Developing and Investing in Urban Waqf Properties in Algerian Legislation |
| title_full | Al-Marsad Right as a Mechanism for Developing and Investing in Urban Waqf Properties in Algerian Legislation |
| title_fullStr | Al-Marsad Right as a Mechanism for Developing and Investing in Urban Waqf Properties in Algerian Legislation |
| title_full_unstemmed | Al-Marsad Right as a Mechanism for Developing and Investing in Urban Waqf Properties in Algerian Legislation |
| title_short | Al-Marsad Right as a Mechanism for Developing and Investing in Urban Waqf Properties in Algerian Legislation |
| title_sort | al marsad right as a mechanism for developing and investing in urban waqf properties in algerian legislation |
| topic | vakıf vakıf i̇stismarı marsad hakkı vakıf mütevellisi marsad hakkı sahibi waqf exploitation the right of al- marsad the trustee of the waqf the owner of the right of al- marsad |
| url | https://dergipark.org.tr/tr/download/article-file/4129143 |
| work_keys_str_mv | AT djelloulmehda almarsadrightasamechanismfordevelopingandinvestinginurbanwaqfpropertiesinalgerianlegislation |