It is narrated from Sayyiduna Ibn Umar (may Allah be pleased with them both) that the Noble Prophet (peace and blessings be upon him) said: "Whoever buys any kind of grain (produce), he should not sell it before taking possession of it."
Hadith Referenceسنن دارمي / من كتاب البيوع / 2595
Hadith Gradingتحقیق (حسین سلیم أسد الدارانی):إسناده قوي وهو عند مالك في البيوع، [مكتبه الشامله نمبر: 2601]
Hadith Takhrijاس روایت کی سند صحیح اور حدیث متفق علیہ ہے۔ دیکھئے: [بخاري 2126] ، [مسلم 1525] ، [أبوداؤد 3492] ، [نسائي 4609] ، [ابن ماجه 2226] ، [أبويعلی 5798] ، [ابن حبان 4981]
Brief Explanation
(Commentary on Hadith 2594)
In this hadith, there is a prohibition against selling food and drink items such as wheat, barley, millet, bajra, rice, etc., before taking possession of them.
In one narration, instead of «حَتَّىٰيَقْبِضَهُ», it is «حَتَّيٰيَكْتَالَهُ», and in another narration, it is «حَتَّىٰيَسْتَوْفِيْه»; by this is meant taking possession by measuring or weighing.
Some scholars and jurists have restricted this possession only to grains and cereals, while others have extended it to every movable item, and some scholars have said that whether the item is movable or immovable—land, property, etc.—it is not permissible for the buyer to sell it before taking possession.
Nowadays, this objective is fulfilled through registration and entry in official documents or by receiving the documents.