House Raffle

Across the county, desperate homeowners are looking for unusual ways to unload their house. You may have seen Internet ads that say you can raffle your house and pocket the cash. Unfortunately, it's against the law for private citizens to hold raffles. Only nonprofits can hold raffles, and there are a bunch of rules and regulations they have to adhere to in order to make a house raffle legal. What do you get out of it? If you transfer title to a nonprofit, you'll get a big fat tax deduction - but that isn't what more people who want do conduct a house raffle are looking for. This page has more information on house raffles.

Featured House Raffle Article

Want to Raffle Your House? Mostly, You Can't

Thinking of conducting a house raffle to unload your house instead of selling it? It's illegal for homeowners to raffle off their own house. Instead, you have to work with a nonprofit organization and transfer ownership of the house to them. The nonprofit can then raffle off your house, and you'll get a tax deduction - not cash. Here are more details on house raffles.

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