em1977 Posted January 16, 2009 Author Share Posted January 16, 2009 I've heard a similar story of someone 'selling' their house this way. I suppose we will see more and more of these sorts of things given the present housing market and economic climate. Yes, your chances are only 1 in 3600 but it's a lot better than the lottery which many people are more than happy to carry on pouring money into. Link to comment Share on other sites More sharing options...
savbaby Posted January 16, 2009 Share Posted January 16, 2009 a lot of people have resorted to this lately, an elderly couple done it with thier cottage as they couldnt sell it http://news.bbc.co.uk/1/hi/england/devon/7581771.stm if you google it loads will come up. They also use this type of raffle in the airports selling tickets for £60 for a sports car. All the middle aged men in a mid life crisis tend to buy them:hihi: Link to comment Share on other sites More sharing options...
heavenlyarts Posted January 16, 2009 Share Posted January 16, 2009 TEchnically as a lottery it's illegal they have to add a question to make it skill. (there is a skill question...when was sheffield wednesday founded) THere are several being challenged by the lotteries commission at the moment. See http://win-house.co.uk/component/content/article/9.html Link to comment Share on other sites More sharing options...
eman Posted January 16, 2009 Share Posted January 16, 2009 If all the tickets aren't sold they will still carry out a prize draw and the winner will win the total amount raised (less a donation to charity) which in some sense could be considered a better deal as if they don't sell all the tickets you have better odds of winning!! Link to comment Share on other sites More sharing options...
L00b Posted January 16, 2009 Share Posted January 16, 2009 Can't some of you people read? Prize: a 125 year leasehold interest in Apartment 82, Brewery Wharf, 23 Mowbray Street, Sheffield S3 8EN as more particularly described in the Legal Title Documents available via written request from our office.[/Quote] You don't win the apartment, you win a 125 year lease on it (and no, this is not the same as freehold/leasehold land when you buy a house or flat). In other words: the prize is a 'rent-paid-up-for-125-years occupancy contract' you get legal title to the lease, not to the flat the flat does not belong to you So you could only ever sell on the lease, but never the flat itself. Mug's game. Link to comment Share on other sites More sharing options...
eman Posted January 16, 2009 Share Posted January 16, 2009 Can't some of you people read? You don't win the apartment, you win a 125 year lease on it. In other words: it does not belong to you, it is like a 'rent-paid-for-125-years occupancy contract'. LOL, I'm fairly sure I'll have ended before the lease does, so that really wouldn't bother me and this is also true of the majority of new apartments sold in the last few years. Link to comment Share on other sites More sharing options...
heavenlyarts Posted January 16, 2009 Share Posted January 16, 2009 More here about the one facing a legal challenge: http://www.winadevonpropertywithfishing.co.uk/ Link to comment Share on other sites More sharing options...
em1977 Posted January 16, 2009 Author Share Posted January 16, 2009 I take it you won't be buying a ticket L00b? Link to comment Share on other sites More sharing options...
L00b Posted January 16, 2009 Share Posted January 16, 2009 LOL, I'm fairly sure I'll have ended before the lease does, so that really wouldn't bother me and this is also true of the majority of new apartments sold in the last few years. Well, if you want to spend your entire life in a 1 bedroom flat, however posh, that's your prerogative of course I take it you won't be buying a ticket L00b? Take a SWAG (simple wild-@ssed guess) Link to comment Share on other sites More sharing options...
em1977 Posted January 16, 2009 Author Share Posted January 16, 2009 Is there anyone else who actually thinks this is a good idea or am I just gullible? Link to comment Share on other sites More sharing options...
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