For movable property such as a watch, phone, jewellery or a specified book, possession generally requires a delivery that places the item under the pledgee's control. Sending a photograph or recording an intention does not by itself satisfy the condition.
A watch in a cupboard might be possessed if the creditor genuinely controls access and the asset is unambiguously delivered. But if the debtor continues to keep and use it freely, verbal acknowledgment alone is not equivalent to completed delivery.
The governing features are effective control and definite identification.
Opening interactive controls...
Taking possession of movable collateral
Kitab al-Rahn: Pledge Formation, Possession, Liability and Eligible Collateral
For movable property such as a watch, phone, jewellery or a specified book, possession generally requires a delivery that places the item under the pledgee's control. Sending a photograph or recording an intention does not by itself satisfy the condition.
A watch in a cupboard might be possessed if the creditor genuinely controls access and the asset is unambiguously delivered. But if the debtor continues to keep and use it freely, verbal acknowledgment alone is not equivalent to completed delivery.
The governing features are effective control and definite identification.