How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask WiseOwl58 Your Own Question
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 3649
Experience:  Experienced real estate lawyer and real estate broker.
62735101
Type Your Real Estate Law Question Here...
WiseOwl58 is online now
A new question is answered every 9 seconds

I own a home in NY State & I was wondering a couple of

Customer Question

I own a home in NY State & I was wondering a couple of things .First I would like to know if you can raffle your house in NY State
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: NY State
JA: Have you talked to a lawyer yet?
Customer: no I have not
JA: Anything else you think the lawyer should know?
Customer: I purchased the house in 2000 for 305,000 and I believe I can sell if for somewhere in the Mid 600 range I also refi a couple of times
Submitted: 8 months ago.
Category: Real Estate Law
Expert:  WiseOwl58 replied 8 months ago.

In New York State you have to be a charitable organization to conduct a raffle. Unless you can qualify as one, you cannot raffle off your house, because raffle is a form of gambling and that is highly regulated.

See below re rules about raffles in New York.

What you can do, however, is to hold an auction, where the property gets sold to the highest bidder. You can set a minimum price, meaning if the auction does not go that high, the house will stay as your property.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

NY Raffles:

Guidelines For Conducting Raffles

A reference guide of Raffle operational highlights for authorized organizations, municipal clerks, and chief law enforcement officers.

The following restrictions apply to the conduct of all raffle categories:

  • Raffle tickets may be sold and drawings conducted on an authorized organization’s premises; during its licensed casino nights or carnival games of chance events; and during its licensed bingo occasions, in accordance with Section 5620.22(b)(5) of the Board’s Rules and Regulations.

     

  • Only persons eighteen years of age or older shall purchase raffle tickets, sell raffle tickets, or conduct or assist in the conduct of a raffle drawing.

     

  • Raffle tickets, as authorized under Section 5620.22(b)(6) of the Board’s Rules and Regulations, may also be sold to the public outside the premises of an authorized organization or an authorized games of chance lessor, provided such sales occur in municipalities which have passed a local law, ordinance or resolution in accordance with Sections 187 and 188 of the General Municipal Law that are located in the county in which the municipality in which the authorized organization is located, and in the counties which are contiguous to the county in which the municipality in which the authorized organization is located, provided those municipalities have authorized the licensee, in writing on a Raffle Consent Form, to sell such raffle tickets therein.

     

  • No sale of raffle tickets shall be made more than one hundred eighty days prior to the date scheduled for the occasion at which the raffle will be conducted.

     

  • Raffle tickets can be sold by a member of an authorized organization eighteen years of age or older, and may also be sold by any person eighteen years of age or older with a blood relationship or affinity with a member of an authorized organization licensed to conduct a raffle pursuant to Rule 5620.22(b)(11), or a by any person eighteen years of age or older with a blood relationship or affinity with a member of an authorized organization conducting a raffle.

     

  • The winner of any raffle prize shall not be required to be present at the time such raffle drawing is conducted.

     

  • Pursuant to Article I, Section 9 of New York’s Constitution, the Games of Chance Licensing Law, and the Board’s Rules and Regulations, all proceeds derived from games of chance, including raffles, must be disbursed solely for lawful purposes in accordance with Section 189 of the General Municipal Law and Part 5624 of the Board’s Rules and Regulations.

     

Raffle Categories

Please select the raffle category below that best describes the type of raffle your authorized organization intends to conduct:

A. If you intend to operate a raffle in which the cumulative net proceeds for all raffles conducted during the calendar year will meet or exceed $30,000, please read Raffle Category 1.

B. If you intend to operate a raffle in which the cumulative net proceeds will meet or exceed $5,000 per drawing or $20,000 total in a calendar year but will not meet or exceed $30,000, refer to Raffle Category 2.

C. If you intend to operate a raffle in which the net proceeds derived from a single raffle will be less than $5,000 and the cumulative net proceeds for all raffles conducted during the calendar year will not meet or exceed $20,000, refer to Raffle Category 3.

Raffle Category 1

When conducting raffles in which the cumulative net proceeds for all raffles conducted during the calendar year will meet or exceed $30,000, the authorized organization must:

  • File a Games of Chance License application with their municipal clerk using forms GC-2, GC-2A, and GC-2B, along with a $25.00 annual license fee.

     

  • Apply for and obtain a Games of Chance Identification Number from the Board.

     

  • Obtain a Games of Chance License issued by the municipal clerk on Form GC-5.

     

  • Maintain a special raffle or games of chance checking account into which all raffle proceeds will be deposited, and from which such funds will be lawfully disbursed in accordance with Section 5624 of the Board’s Rules and Regulations.

     

  • Ensure that no single prize awarded in a raffle shall exceed the sum or value of fifty thousand dollars, except that an authorized organization may award by raffle a single prize having a value of up to and including one hundred thousand dollars if its application for a license includes a statement of its intent to award a prize having such value. (See Rules 5622.12 and 5622.13.)

     

  • File a financial statement of raffle operations on Form GC-7R with the municipal clerk and the Board by January 30th of the following year.

     

  • Remit an additional license fee to the municipality (or county fiscal officer, if applicatble) assessed at 2% of the net profits of $30,000 or more (Note: There is no additional license fee paid on the first $29,999 derived in net profits.)

     

  • Raffle tickets may be sold and drawings conducted on an authorized organization’s premises; during its licensed casino nights or carnival games of chance events; and during its licensed bingo occasions, in accordance with Section 5620.22(b)(5) of the Board’s Rules and Regulations.

     

  • Only persons eighteen years of age or older shall purchase raffle tickets, sell raffle tickets or conduct or assist in the conduct of a raffle drawing.

     

  • Raffle tickets, as authorized under Section 5620.22(b)(6) of the Board’s Rules and Regulations, may also be sold to the public outside the premises of an authorized organization or an authorized games of chance lessor, provided such sales occur in municipalities which have passed a local law, ordinance or resolution in accordance with Sections 187 and 188 of the General Municipal Law that are located in the county in which the municipality in which the authorized organization is located, and in the counties which are contiguous to the county in which the municipality in which the authorized organization is located, provided those municipalities have authorized the licensee, in writing on a Raffle Consent Form, to sell such raffle tickets therein.

     

  • Raffle tickets can be sold by a member of an authorized organization licensed to conduct raffles who is at least eighteen years of age, and may also be sold by any person at least eighteen years of age with a blood relationship or affinity with a member of an authorized organization licensed to conduct a raffle pursuant to Section 5620.22(b)(11) of the Rules, or a by any person at least eighteen years of age with a blood relationship or affinity with a member of an authorized organization conducting a raffle pursuant to the provisions of Section 190-a of the General Municipal Law.

     

  • Pursuant to Article I, Section 9 of New York’s Constitution, the Games of Chance Licensing Law and the Board’s Rules and Regulations, all proceeds derived from games of chance, including raffles, must be disbursed solely for lawful purposes in accordance with Section 5624 of the Board’s Rules and Regulations.

     

Raffle Category 2

When conducting raffles in which the net proceeds derived from a single raffle will meet or exceed $5,000 or the cumulative net proceeds for all raffles conducted during the calendar year will meet or exceed $20,000 in a calendar year, but will be less than $30,000, the authorized organization must:

  • Apply for and obtain a Games of Chance Identification Number from the Board.

     

  • File a verified statement with the municipal clerk and the Board on Form GCVS-1 attesting that the cumulative net proceeds for all raffles conducted during that calendar year will be less than $30,000.

     

  • Ensure that no single prize awarded in a raffle shall exceed the sum or value of fifty thousand dollars, except that an authorized organization may award by raffle a single prize having a value of up to and including one hundred thousand dollars if its application for a license includes a statement of its intent to award a prize having such value. (See Sections 5622.12 and 5622.13 of the Board’s Rules and Regulations.)

     

  • File a verified statement with the municipal clerk and the Board at the end of the calendar year on Form GCVS-2 attesting that the cumulative net proceeds for all raffles conducted during that calendar year were less than $30,000, and that such proceeds have been deposited into a bank account to be disbursed only for the lawful expenditures permitted under Section 5624.21 of the Board’s Rules and Regulations.

     

  • Raffle tickets may be sold and drawings conducted on an authorized organization’s premises; during its licensed casino nights or carnival games of chance events; and during its licensed bingo occasions, in accordance with Section 5620.22(b)(5) of the Board’s Rules and Regulations.

     

  • Only persons eighteen years of age or older shall purchase raffle tickets, sell raffle tickets or conduct or assist in the conduct of a raffle drawing.

     

  • Raffle tickets, as authorized under Section 5620.22(b)(6) of the Board’s Rules and Regulations, may also be sold to the public outside the premises of an authorized organization or an authorized games of chance lessor, provided such sales occur in municipalities which have passed a local law, ordinance or resolution in accordance with Sections 187 and 188 of the General Municipal Law that are located in the county in which the municipality in which the authorized organization is located, and in the counties which are contiguous to the county in which the municipality in which the authorized organization is located, provided those municipalities have authorized the licensee, in writing on a Raffle Consent Form, to sell such raffle tickets therein.

     

  • Raffle tickets can be sold by a member of an authorized organization licensed to conduct raffles who is at least eighteen years of age, and may also be sold by any person at least eighteen years of age with a blood relationship or affinity with a member of an authorized organization licensed to conduct a raffle pursuant to Section 5620.22(b)(11) of the Rules, or a by any person at least eighteen years of age with a blood relationship or affinity with a member of an authorized organization conducting a raffle pursuant to the provisions of Section 190-a, Article 9-A, of the General Municipal Law.

     

  • Pursuant to Article I, Section 9 of New York’s Constitution, the Games of Chance Licensing Law and the Board’s Rules and Regulations, all proceeds derived from games of chance, including raffles, must be disbursed solely for lawful purposes in accordance with Section 5624 of the Board’s Rules and Regulations.

     

  • Note: If, during the course of that calendar year licensed period the cumulative net proceeds derived from the conduct of raffles reach or exceed $30,000, the authorized organization shall, as outlined in Raffle Category 1 above, apply for a license, file a GC-7R financial statement, and remit an additional license fee.

     

Raffle Category 3

When conducting raffles in which the net proceeds derived from a single raffle will be less than $5,000 and the cumulative net proceeds for all raffles conducted during the calendar year will be less than $20,000, the authorized organization must:

  • Following an examination of its charter, certificate of incorporation or constitution, the organization’s principal officers must make a self-determination in good faith that the organization meets the qualifications of an “authorized organization” as that term is defined in Section 190-a (2) of the General Municipal Law.

     

  • Raffle tickets may be sold and drawings conducted on an authorized organization’s premises; during its licensed casino nights or carnival games of chance events; and during its licensed bingo occasions, in accordance with Section 5620.22(b)(5) of the Board’s Rules and Regulations.

     

  • Only persons eighteen years of age or older shall purchase raffle tickets, sell raffle tickets, or conduct or assist in the conduct of a raffle drawing.

     

  • Raffle tickets, as authorized under Section 5620.22(b)(6) of the Board’s Rules and Regulations, may also be sold to the public outside the premises of an authorized organization or an authorized games of chance lessor, provided such sales occur in municipalities which have passed a local law, ordinance or resolution in accordance with Sections 187 and 188 of the General Municipal Law that are located in the county in which the municipality in which the authorized organization is located, and in the counties which are contiguous to the county in which the municipality in which the authorized organization is located, provided those municipalities have authorized the licensee, in writing on a Raffle Consent Form, to sell such raffle tickets therein.

     

  • Raffle tickets can be sold by a member of an authorized organization eighteen years of age or older, and may also be sold by any person eighteen years of age or older with a blood relationship or affinity with a member of an authorized organization licensed to conduct a raffle pursuant to Section 5620.22(b)(11) of the Rules, or a by any person eighteen years of age or older with a blood relationship or affinity with a member of an authorized organization conducting a raffle.

     

  • All proceeds derived from the conduct of raffles shall be deposited into a bank account maintained solely by the authorized organization to be disbursed only for the lawful expenditures permitted under Section 5624.21 of the Board’s Rules and Regulations.

     

  • Pursuant to Article I, Section 9 of New York’s Constitution, the Games of Chance Licensing Law and the Board’s Rules and Regulations, all proceeds derived from games of chance, including raffles, must be disbursed solely for lawful purposes in accordance with Section 5624 of the Board’s Rules and Regulations.

     

  • Note: If, during the course of a calendar year in which raffles are conducted the net proceeds for a single raffle reach or exceed $5,000 or the cumulative net proceeds derived from the conduct of all raffles during a calendar year reach or exceed $20,000, the authorized organization shall apply for and obtain a Games of Chance Identification Number from the Board and follow the licensing and filing requirements outlined in either Raffle Category 1 or Raffle Category 2 above, as applicable, depending upon the thresholds reached for the net proceeds derived from a single raffle, or the cumulative net proceeds derived from all raffles conducted during that calendar year.

     

Gaming Commission

Expert:  WiseOwl58 replied 8 months ago.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 8 months ago.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 7 months ago.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 7 months ago.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 7 months ago.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 7 months ago.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 7 months ago.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

Related Real Estate Law Questions