Posted by eric on May 14, 2000 at 11:58:56:
I’ve not done it, but I’ve heard about it, that there are all kinds of legal ramifications, and they vary by state. In some states, it may not even be legal, it’s considered gambling. If you have a property you are considering this for, I would definitely do some research. I think also, that if you do run a lottery, you almost always have to sell the house, even if you can’t find enough ticket buyers. This may not necessarily be so if you auction if off, again, laws vary greatly, but I would personally lean towards auctioning as described in the “sell your house in 5 days” book, rather than lotto it.