Transferance of a Debt from One Person to Another (Al-Hawaala)

وَقَالَ الْحَسَنُ وَقَتَادَةُ إِذَا كَانَ يَوْمَ أَحَالَ عَلَيْهِ مَلِيًّا جَازَ. وَقَالَ ابْنُ عَبَّاسٍ يَتَخَارَجُ الشَّرِيكَانِ وَأَهْلُ الْمِيرَاثِ، فَيَأْخُذُ هَذَا عَيْنًا وَهَذَا دَيْنًا، فَإِنْ تَوِيَ لأَحَدِهِمَا لَمْ يَرْجِعْ عَلَى صَاحِبِهِ.Al-Hasan and Qatada said, “If the transferee was rich when the debt was transferred, the agreement is final and irrevocable by the creditor.” Ibn ‘Abbas said, “When two partners disassociate and one of them accepts assets while the other accepts debts as a part of his share, if the debts could not be collected (because of the death of the debtor, his bankruptcy, or his denial of the debt, etc.), the one who has accepted the debts would have no right to demand any compensation from his partner.” This is applied also in setting the affairs of inheritors.