Do the bank and I actually own the property in a diminishing partnership?

The concept of diminishing partnership is based on shared ownership, with the bank's share gradually decreasing as you purchase it.

Steps

1. Therefore, you need to understand each party's ownership percentage, how shares are transferred, and what you pay for the bank's share.

2. If the entire offer is presented to you as a single payment, request a detailed breakdown of the transaction.

The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.

Source

• AAOIFI — Sharia Standards