Is it legal to raffle off real estate?

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Is it legal to raffle off real estate?

Asked on September 11, 2011 under Real Estate Law, Oregon

Answers:

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

Answered 10 years ago | Contributor

No, unfortunately it is not legal to just raffle off your home or other real estate (or personal property for that matter). An individual cannot have a legal raffle without a charity involved.  You will have to designate a charity that will receive any proceeds over that which you are asking for the property.  

In other words, the non-profit can then raffle off your house and you'll get a tax deduction but not the cash.  As a general rule, nonprofit, tax-exempt entities are churches, schools, civic organizations, or related support groups; and nonprofit organizations qualified under Section 501(c) of the Internal Revenue Code.

You'll need to meet with a representative of that charity and explain what you are doing and how you will go about donating the proceeds. Since this can all get a little complicated you may want to meet with an attorney to help you get you started.


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