Note: The DearEsq free 'ask a lawyer' site is offered as a free informational service to the public and is not intended as legal advice. Laws vary from state-to-state, and in addition every situation is unique, and relevant facts may not be known. The answer to the question posed below may not apply to in your state or to your situation. For legal advice in your state and your situation you should consult with an attorney in your state who is familiar with the rules and laws in your state.
“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!Ã¯Â¿Â½ 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.
Question: As for whether this would actually get you a better price, that’s kind of a crapshoot.