Ibn Khuzaymah

And making its fruits dedicated to those among the poor and relatives whom he described, and those mentioned with them, along with the evidence that the endowment, if the endower does not remove it from his possession, is valid and permissible. For if the endowment were not valid except by the endower removing it from his possession, the Chosen One, peace and blessings be upon him, would have ordered Umar, when he commanded this charity, to remove it from his possession. And the Prophet, peace and blessings be upon him, had ordered—in the narration of Yazid ibn Zuray‘—to keep its principal, saying: "If you wish, keep its principal and give it in charity." And if the endowment were not completed except by the endower removing it from his possession, the Chosen One, peace and blessings be upon him, would not have ordered al-Faruq to keep its principal.

It is narrated from Sayyiduna Ibn Umar (may Allah be pleased with them both) that Sayyiduna Umar (may Allah be pleased with him) consulted the Noble Prophet (peace and blessings be upon him) regarding his charity. The Prophet said: "Keep its original property (in your ownership) as waqf and give its yield as charity." So Abdullah says that Sayyiduna Umar (may Allah be pleased with him) dedicated that land as waqf for the needy who ask, the deprived, travelers, those striving in the way of Allah, for freeing slaves, and for the poor. And (as a supervisor) he used to eat from it and feed his friends and loved ones from it, but he never made it his personal property.