A: Qurbani is Wajib (obligatory) when the following conditions exist:

1. Muslim
2. Aaqil - Sane of Mind
3. Baligh - Major
4. Muqeem - not a Shari traveller
5. Owner of Nisab on any of the 3 days of Qurbani

(Not necessary to have it in possession for a whole year)

Darul Ihsan Fatwa Department