THE BAIS HAVAAD HALACHA JOURNAL: Volume 5776 Issue XXXV Shoftim LOANS/STOCKS PART 2 How tangible are they? By: HaRav Dovid Grossman, Rosh Bais HaVaad

The Halakhic Status of Loans, Stocks, and Other Financial Instruments, Part 21 Introduction In Part 1 of this topic, we noted the distinction between funds that are rauy, potential, and muchzak, definite. We explained that rauy refers to funds that are not currently in the possession of a certain individual, but are expected to pass into his possession at some future date. Muchzak funds, in contrast, are funds that are currently in the possession of the individual. We also explained that the major halachic consequence of these two concepts are with regard to the halacha of the double portion due to a bechor, a firstborn son, as well as a husband who inherits the property of his wife who passes away. In both cases, as opposed to other cases of inheritance, the inheritor receives only funds that are muchzak, but funds that were rauy, but not actually in the possession of the deceased at the time of death, are not included. Finally we began to discuss some basic cases mentioned in the Gemara and Rishonim, such as that of a loan, a deposit, and a partnership, and analyzed whether these cases had the status of rauy or muchzak funds.