Legal Question in Real Estate Law in Utah

Creative way of selling home

What, if any, legal contraints would there be in trying to sell your home in the following creative way?

( I heard this on the radio. ) You require an entry form which would inlcude an essay and answers to a few simple trivia questions and an entry fee of $50. The winning entry would get the house. The losing entries nothing.

I know that it has been done before. In some quick research I found a couple, who were lawyers, who did this in California at least 5 years ago.

I just wanted to know how to go about doing this without getting in trouble.

Thanks.


Asked on 3/14/01, 1:26 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Creative way of selling home

In Utah this is considered a lottery, and is illegal. If you did not get enough entries to cover the sales price of the house you would have to return them, or be guilty of fraud.

If you want to sell your house and the market is not cooperative, provide Seller Financing, which with proper documents will give you good protection. Other choices include lease-options or rent to buy. All require carefully drafted documents to protect the seller.

Read more
Answered on 5/23/01, 1:52 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Utah