Physical possession (Qabd Haqiqi — قبض حقيقي): Actual physical taking of the goods — hand delivery, warehousing, physical transfer.
Constructive possession (Qabd Hukmi — قبض حكمي): Deemed possession without physical handling. Recognised forms include: transfer of documents of title, registration in buyer's name, earmarking/segregation of specific goods, electronic transfer confirmation (for currencies), and delivery to the buyer's agent.
Qabd by Asset Type
What constitutes valid possession depends on the nature of the asset. Classical jurists worked through each major asset class because the operational test for "the goods have left the seller and come into the buyer's control" differs according to physical characteristics.
Real estate+
Possession is achieved through enabling the buyer to take control: handing over keys, transferring registration into the buyer's name, and giving unrestricted access. Mere registration without practical access does not satisfy qabd; nor does practical access without title transfer where registration is the customary mark of ownership in the jurisdiction.
Movable goods (with substance)+
Possession is taken by physical transfer where feasible — receiving the item in hand, taking delivery at one's premises, or assuming custody at a recognised warehouse. For bulky goods, qabd may be satisfied by their relocation under the buyer's direction even if the buyer has not personally handled them.
Bulk fungibles measured by volume / weight+
Possession requires takyil (measuring), wazn (weighing), or kayl (volumetric measurement) — the act of singling out the buyer's portion from a larger common stock. A buyer who has paid for "100 tonnes of wheat" from a 1,000-tonne silo has not yet taken qabd until those 100 tonnes are measured out and segregated for him.
Currencies and account balances+
Possession is achieved through irrevocable credit to the buyer's account, allowing him immediate access through the banking system. Cheques, drafts, or transfer instructions that have not yet cleared do not constitute qabd — they are payment promises pending performance.
Documents of title+
A bill of lading, warehouse receipt, or stock certificate can stand in for the underlying asset where commercial custom recognises the document as transferring control. The document must be issued in the buyer's name and be one the issuing custodian will honour against the buyer's instructions.
In every case the substance test is the same: the buyer has acquired the practical ability to dispose of the asset and the risk of loss has moved with that ability. The asset-type rules are operational guides for evidencing this substance — they are not formalities that can be satisfied while the substance remains absent.
Possession Rules by Product
Product
Possession Requirement
Practical Implementation
Murabahah
Bank must possess BEFORE reselling to customer
Bill of lading in bank's name; goods at bank's risk during transit
Salam
Buyer cannot resell before receiving delivery
No sale of Salam commodity before delivery date
Tawarruq
Client must achieve actual or constructive possession before on-sale
Storage certificate; commodity identified and separated
Currencies
Both parties must possess in the same session
Bank transfer/electronic credit (irrevocable); NOT uncleared cheques