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Waqf
A waqf is a religious endowment in Islam, typically devoting a building or plot of land for Muslim religious purposes.
The practice of declaring property as waqf may also have its origins in the ancient Islamic estate law, whereby a man's property reverted to the nation's ruler upon the man's death, unlike in other cultures wherein a man's descendants or designees inherit. By declaring his estate as waqf and his descendants as trustees, a rich man could provide an income for his surviving family.
Links:
- encyclopedia article (http://i-cias.com/e.o/waqf.htm)
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