Qurbani is wajib on every Muslim who is of sound mind, mature (who has reached the age of puberty), muqeem (i.e. he is not a Shar’ee traveler) and possesses the amount of fifty two and half totals of silver (612-36 grams) or wealth equivalent to that value which is in excess of one’s aslee (basic) needs. It is not necessary that this amount be in one’s possession for a complete lunar year. It’s possession during the three days of Qurbani will make Qurbani obligatory. Qurbani is not incumbent on a child or an insane person whether they own wealth equivalent to the amount above or not, nor is it wajib upon their guardians to perform it on their behalf. Similarly, it is not wajib on a Shar’ee traveler.
NOTE: A Shar’ee traveler is he who goes on a journey with an intention of traveling forty eight miles. He will be treated as a traveler as soon as he goes out of his town.
It is highly virtuous for one on whom Qurbani is not wajib to offer sacrifice for the Pleasure of Allah. He will be eligible for all the reward mentioned in the Ahadeeth.
During the days of Qurbani, sadaqah and charity cannot compensate for Qurbani nor fulfil the wajib. Qurbani is a unique ibadah. Just as Zakah cannot compensate for Hajj, or Sawm (Fasting) cannot compensate for Salaat, similarly charity cannot compensate for Qurbani. However, if the days of Qurbani had passed, and the Qurbani was not offered due to not knowing, negligence or for some other valid reason, then it becomes wajib to give in sadaqah the price of Qurbani animal or the animal itself to the poor.
If a traveler returned home or a person acquired the required wealth on the 12th of Zul Hijjah before sunset, it will be wajib upon him to perform Qurbani.
A traveler who makes intention of staying at a certain place for fifteen days or more, no longer remains a traveler. He must offer Qurbani if he possesses the prescribed amount.