Can you raffle off a house

A large number of these home raffles flout the strict gambling laws in the United Kingdom. The exact legalities of the situation are quite complicated. There is one specific problem that house raffles may encounter. The UK laws on raffles and lotteries are clear. Competitions based on luck ' alone ' cannot raise money for private individuals.

This type of ' lucky draw ' can only raise money for a charity - such as a lottery. It needs to involve an element of skill. It must also offer the opportunity for people to enter the draw without a charge.

There are certain other requirements too such as ensuring:. There are severe penalties for breaching the rules on house raffles.

Scott Jagow Jun 8, Share Now on:. Share Now:. Stories You Might Like Help arrives for some underwater homeowners. Insurance increasingly unaffordable as climate change brings more disasters.

Tax changes could have big effect on housing. As neighborhoods gentrify, how do you help residents stay in place? Report shows decrease in underwater mortgages. The cost of this would obviously be on top of all the usual conveyancing fees that arise during the sale of a property.

This might be through buying advertising online or on social media, or it might be through getting media coverage. Would you plan to cover the cost of stamp duty with the prize, or would Ms Winner have to stump up the cost of that herself?

What about the cost of conveyancing? Remember we mentioned a set of robust terms and conditions? In other words: that the house would only be given as a prize if the required number of tickets were sold. Instead, he would have to either hand over the cash as the prize minus expenses etc or refund all the tickets.

Those who are thinking of selling a property in a raffle because it seems virtually unsellable might want to examine the ethics of the situation. For example, would you be misleading raffle entrants about the true reality of a leasehold contract? Would you be trying to escape the reality of what a property survey would bring up?

Please do get in touch if we can help you consider your options. January 29, , am , Blog , News , Property Law. Is there another way?!