When Is It Permitted to Benefit the Lender: Difference between revisions
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When Is It Permitted to Benefit the Lender (view source)
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# It is forbidden to stipulate that you will lend me money and I'll hire you for a fair price because that is considered as though one is paying them for the loan. There is a dispute if this is Biblical or rabbinic interest.<ref>Maharam (kirmona edition, responsa 257), Rama Y.D. 166:3. Chelkat Binyamin 160:43 writes that the Maharam writes that it is Biblical interest, while the Rama 166:3 implies it is only rabbinic interest. He concludes that it is an unresolved dispute.</ref> | # It is forbidden to stipulate that you will lend me money and I'll hire you for a fair price because that is considered as though one is paying them for the loan. There is a dispute if this is Biblical or rabbinic interest.<ref>Maharam (kirmona edition, responsa 257), Rama Y.D. 166:3. Chelkat Binyamin 160:43 writes that the Maharam writes that it is Biblical interest, while the Rama 166:3 implies it is only rabbinic interest. He concludes that it is an unresolved dispute.</ref> | ||
# It is forbidden to lend money to someone and in the same situation be hired by him for a fare price because that appears to be interest. However, it is permitted if it is done in two settings. Alternatively, it is permitted if the loan is given as a complete gift even though the borrower is likely to give the gift back.<ref>Rama 166:3, Chelkat Binyamin 166:45, Shulchan Aruch Y.D. 177:13</ref> | # It is forbidden to lend money to someone and in the same situation be hired by him for a fare price because that appears to be interest. However, it is permitted if it is done in two settings. Alternatively, it is permitted if the loan is given as a complete gift even though the borrower is likely to give the gift back.<ref>Rama 166:3, Chelkat Binyamin 166:45, Shulchan Aruch Y.D. 177:13</ref> | ||
===Right of First Refusal=== | |||
# If a person lent money to another Jew so that they could buy a piece of real estate and added a clause that granted the right of first refusal to the lender that would be forbidden as interest.<ref>Because the lender is stipulating that he has the right to buy back that piece of real estate if the seller chooses to sell it that is considered a benefit he is extracting from the borrower. According to the Nekudat Hakesef 160:23's first answer it is forbidden unless that original piece of real estate was a collateral for the loan. According to the second answer it could be permitted if it is a fair price for the real estate. Additionally, the Chavot Daat answers that it is forbidden to stipulate the right to buy a real estate unless it is sold retroactively from the time of the loan so that the loan reverts to a sale and the ownership was in the hands of the "lender" for the duration of the "loan". The only answer that would permit this deal is the second answer of the Shach. The poskim do not rely on the second answer of the Shach alone (Chelkat Binyamin 172:72, Brit Yehuda 11:25).</ref> This could be remedied by having the lender pay the borrower the standard brokerage fee for not having to pursue this deal.<ref>[https://businesshalacha.com/en/business-weekly/archive/78?selected=1 Business Halacha (Beshalach 5778)]</ref> | |||
==Non-Financial Benefit== | ==Non-Financial Benefit== | ||
