The World Federation One Stop Fiqh

Ruling 2327

If the time arrives for a debtor to pay his debt and the creditor demands it but the debtor does not pay him, in the event that the creditor has agency (wikālah) to sell the property that has been deposited as security and take what he is owed from the proceeds, he can sell it and take what he is owed. In case he does not have agency, it is necessary for him to obtain the owner’s consent. If he does not have access to him, then based on obligatory precaution (al‑iḥtiyāṭ al‑wājib), he must get authorisation from a fully qualified jurist (al‑ḥākim al‑sharʿī). In both cases, if he acquires an additional amount [from the sale], he must give that additional amount to the owner.