Can I Raffle Off my Property? Will This Give Me a Better Price?
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Summary
I live in Scottsdale Arizona, rather than sell my business and property can I legally raffle it or have an essay contest to get a better price. |
“I live in Scottsdale Arizona, rather than sell my business and property can I legally raffle it or have an essay contest to get a better price. I know they do that here for charity, builders donate home and people buy raffle tickets!� Could I do that with my business and property if I donated a certain amt. to charity!!”
Interesting question. On basic principles, there’s nothing stopping you from doing this. However, most states highly regulate raffles, contests, and other gambling-like activity. You’d need to check your local laws to ensure that the way you set up your raffle or contest wouldn’t violate any of those laws.
As for whether this would actually get you a better price, that’s kind of a crapshoot.
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State laws vary, and the above is intended as general advice, and not direct legal advice regarding any one particular situation in any one state. For direct personal legal advice related to your own situation you should consult an attorney familiar with the laws of your state and with your situation.
