Legal Question in Real Estate Law in Florida

home sale idea, is it legal?

I was considering one of two things. A lottery for my home with a cost of $150.00 per ticket and any funds after the closing goes to the humane society. Or a mortgage paydown. Where I have a contact printed up that states we are paying off the mortgage on this house and by participating you will have a chance to win the house in a drawing with no mortgage. Is either legal? I will need an attorney to guide us and write up the contract.


Asked on 9/27/08, 3:01 pm

1 Answer from Attorneys
Robert Roemer Robert Roemer

Re: home sale idea, is it legal?

It sounds legal but you normally have to be able to get a payoff on the mortgage and provide title insurance to to the buyer.(like a normal closing).If you need help send me a phone #(via e-mail) to reach you at to discuss further.It would be impt. to check the lottery rules re- this transaction.

Read more
Answered on 9/27/08, 4:21 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida