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Prize draw house. Is it legal???
cazzjones
Posts: 10 Forumite
Hi, We are hoping to move to Oz later this year & with the housing market being how it is, were wondering if it was worth selling the house as a prize draw? I have seen it done a couple of times, but wondered what the legal implications were for doing it like this! It does seem a good way to get what you want for it, and also someone gets a home for peanuts but how do you stand as far as capital gains or anything else is concerned? I know as a for instance, a parent can't sell a property they own to a sibling for lets say £20 without implications. Any help would be appreciated. Thanks
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Comments
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Gambling commision has shut them down , search for Devon House on here for a long running thread
http://forums.moneysavingexpert.com/showthread.html?t=1000431&highlight=devonEx forum ambassador
Long term forum member0 -
Thanks for that, just thought it might be an option worth looking at, but no! Cheers0
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Actually, they're still trying to fight the GC. It's not clear that they will win, but it's not dead yet.Gambling commision has shut them down , search for Devon House on here for a long running thread
http://forums.moneysavingexpert.com/showthread.html?t=1000431&highlight=devon0
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