i was going to start a raffle site selling ad space and pick a winner after all were sold. the prize being my house is this legal?
I would hope that your house is very inexpensive, otherwise you'd be hard pressed to make a profit... don't you think?
First of all I doubt you would make enough money to justify giving away your house. Secondly doing a for profit raffle is considered gambling in most countries, which means you either can't do it at all or need to get a lawyer involved.
He is not selling, he is conducting a raffle. There are very different laws that apply to that type of event. It is not as simple as you make it out to be. Where I live, in California, there are very specific laws and regulations regarding who may run a raffle and how the proceeds may be used. http://ag.ca.gov/charities/raffles.php
Yes this is what I am about to say, raffle is a form of gambling and is normally in the monopoly of the hands of the government who sells our licenses as gambling is one of the most lucrative biz to be in. You will need a lawyer to draft out everything clearly to ensure you are not in breach of law.
...I guess you could do it. However, get a raffle license. Most locations require one to operate a raffle, I would also consult with a lawyer.
That was in the papper yesterday, some chap raffeling out his house worth 1 million (well if that is what it is worth, that is what someone would pay, why raffel it???) raffel tickets are £25 each.. the guy has a website for it.. maybe something good for the UK property market right now, a website with house raffels! Go Go Go all you cleaver people! T
I hope you realize that even if you can legally do so. You are legally OBLIGATED to follow through with YOUR part of the contractual agreement no matter how much you make. Meaning, if you make $1,000,000 you MUST give your house away and if you only make $50 you MUST give your house away. Let's not be foolish.