إِنَّ للهِ ما أَخَذ، وَلَهُ ما أَعْـطـى، وَكُـلُّ شَيءٍ عِنْـدَهُ بِأَجَلٍ مُسَـمَّى، فَلْتَصْـبِر وَلْتَحْـتَسِب
Inna lillahi ma akhath, walahu ma aAAtaa, wakullu shayin AAindahu bi-ajalin musammaa, faltasbir waltahtasib
Translation
Verily to Allah belongs what He took and to Him belongs what He gave, and everything with Him has an appointed time. So have patience and hope for Allah's reward.
When to recite
Said to one who has lost a loved one as condolence.
Source / Reference
Al-Bukhari 2/80, Muslim 2/636