Legal Question in Real Estate Law in New Jersey

Is there any law prohibiting you from auctioning your home thru a raffle ie. I owe $300.000 on my house. I want to sell 300 tickets at $1000.00 a piece, pay off my mortgage and someone wins a house free and clear.


Asked on 3/25/11, 11:48 am

1 Answer from Attorneys

Barry Gartenberg Barry F. Gartenberg LLC

Thank you for your LawGuru question. Well, that's a novel approach. A good starting point would be for you to visit www.state.nj.us/lps/ca/lgccc/. Please feel free to contact me to explore your options. 973-921-0600.

Kindly note and remember that my response is merely a general comment on the law related to your question, and NOT legal advice or opinion. Also, your question and my response does NOT create an attorney-client relationship between us. You cannot rely upon what I have written, because I do not have all of the information that I need to advise you or render an opinion. Even simple facts you have not shared can completely change my answer. For me to give you legal advice or opinion, you would need to hire me to be your lawyer, and then we would need to discuss this in detail and go over the documents.

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Answered on 3/25/11, 11:59 am


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