Can I raffle off my house?

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Can I raffle off my house?

Asked on January 20, 2016 under Real Estate Law, South Dakota

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

My research suggests that SD, like other states, prohibit anyone or any company (except a non-profit) from conducting a house raffle. It is viewed as a form of illegal gambing and against the law. If you are thinking of conducting such a raffle, you will have to work with a non-profit organization and transfer ownership of the house to it.  The non-profit can then raffle off your house. However, you will get a tax deduction, not cash.


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