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 8 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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