The term "Waqf" literally means "detention or dedication".It is dedication in perpetuity of some specific property movable or immovable by a person professing Islam,for a pious purpose or succession of pious purpose.
In India,Waqf is a pious endowment,which is inalienable.But in Islamic law it means:
1. State lands,which are inalienable,used for Charitable purposes and
2. Pious Endowments.
The person,who creates the waqf is called "Waqf of Settler".The person in whose favour,the property is transferred is called "Mutawalli".A Mutawalli is the Manager or the administrator appointed for managing the Waqf.When once,a Waqf is validly created,all rights over the property will pass on to the God.
Essentials:
1. The Property dedicated for Waqf vests in GOD.
2. Waqf must be Permanent.
3. waqf must be irrevocable.
4. Waqf properties are Inalienable.
Who can make a Waqf?
Any Muslim,who is a major i.e.18 years old and is of sound mind can make a waqf.Waqf can be made only by a Muslim.
Suject Matter:
According to Abu Hanifa,the subject matter of waqf should be of a permanent nature i.e. immovable property namely Land,buildings.But,gardually all kinds of properties,both immovable,tangible and intangible are made the subject matter of the Waqf.
Objects:
According to the Sec.2(1) of the Musalman Waqf Validating Act,1913 and sec.3(1) of the Waqf Act,1954 the object of creating waqf must be one recognised by Muslim law as "religious,pious or charitable".
Kinds:
Under the Muslim law,there are two kinds of Waqf:
1. Public Waqf:
Public Waqf are created for the benefit of the public,religious and charitable purposes.
2. Private Waqf:
Private Waqf are created for the benefit of the Waqf's Family.They are also known as waqfs-alal-aulad.
Formalities:
Muslim Law prescribes no specific form for creation of a Waqf. It may be Oral or in writing.It is noy necessary to use any specific word or formula for creation of a Muslim Waqf.Even the word "Waqf" may not be used.The language of the dedication should be clear and Unambiguous from which an intention to create a Waqf is discernible.
Registration:
Sec.17(1)(b) of the Registration Act provides for the registration of an immovable Waqf property worth rupees one hundred or more.