Debt not deducted from assets liable to Zakah

I did sign a contract to buy an appartment. I am going to pay instalment every 3 months for 4 years and I gave the company dated checks to cover all the payment. The appartment is not built yet and the company is going to hand over the appartment to me after 4 years accourding to the contract. I have no intention to sell this appartment. My question is: What is the effect of this agreement and contract on my calculation of the money I have and I am going to pay zakat for? Is this ammount of money I have to pay over the coming 4 years considered a debt on me?.

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad , is His Slave and Messenger.

The price of this apartment is considered a debt on you to the company with which you signed a contract to build it.

Scholars held different opinions regarding whether the debt should be deducted from the total sum liable to Zakah or not; please refer to Fatwa 87557 for the details on the scholarly opinions about this.

The most cautious opinion is that of the scholars who held that the debt should not be deducted from the total sum liable to Zakah; instead, the person should pay the Zakah on all his properties liable to Zakah regardless of the debts to which he is liable.

Allaah Knows best.