Question
I bought land without deciding — I might sell if the price is good, or might build. Is zakat due in this state?
Ruling (Fatwa)
Short answer: No. Trade-goods zakat requires a firm, definite intention of trading. In the hesitant state of 'might sell, might keep', the land takes the default ruling of ordinary property, which carries no zakat. The day you firmly resolve to trade it, it becomes trade goods and its hawl starts then.
Details: The default for land and houses is exemption (personal assets); becoming trade goods is the exception, established only by intention. In doubt, the default stands. Per the majority of scholars, the trade intention must exist at purchase or be firmly formed later; mere possibility is not enough. Shaykh al-Uthaymin stated this principle explicitly: wavering thoughts of 'maybe selling' do not establish trade-goods zakat.
Evidence: Quran 2:286 (no burden beyond capacity — no liability without an established cause); Sahih al-Bukhari 1 and Sahih Muslim 1907 (deeds are by intentions); Sahih al-Bukhari 1464 (default exemption of personal property); Shaykh al-Uthaymin (Majmuʿ Fatawa wa Rasa'il, Zakat) on the condition of firm intent.
For complex individual cases, consult a qualified scholar.
References
Quran
Quran 2:286
Hadith
Bukhari 1, 1464; Muslim 1907
Fiqh
al-Uthaymin on firm trade intention