Thorpist Posted January 16, 2009 Share Posted January 16, 2009 Before anyone gets involved in this I would suggest they take a look at this http://www.winadevonpropertywithfishing.co.uk This raffle was originally approved by the gambling commision then subsequently put on hold. There is a million pounds sat with paypal until it is sorted Link to comment Share on other sites More sharing options...
Little Buzz Posted January 16, 2009 Share Posted January 16, 2009 But the odds are so bad its crazy, The odds are not that bad, as explained earlier. Link to comment Share on other sites More sharing options...
ikira Posted January 16, 2009 Share Posted January 16, 2009 The odds are not that bad, as explained earlier. The odds are only bad if you cant afford to throw 50 quid away on a whim Link to comment Share on other sites More sharing options...
theripsaw 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 (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. Listen to what other people are trying to tell you you aggressive little person. What you win is EXACTLY the same interest as if you went to any developer and paid the full price for any apartment anywhere in the country. Apartments are always leasehold interests (i wont go into commonhold). You seem a bit confused. 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). yes you do & yes it is. When the lease term gets short you have rights to extend it. Link to comment Share on other sites More sharing options...
theripsaw Posted January 16, 2009 Share Posted January 16, 2009 Darbees & claireweb, I can't post in any clearer terms: YOU DO NOT WIN THE PROPERTY, ONLY THE RIGHT TO LIVE IN (OR RENT) IT FOR 125 YEARS. That's why the phrasing "leasehold interest in" the flat is used: in 125 years'time, the builders/promoters/whoever owns it then, can again decide what they want to do with it. Granted, it's a long time coming. However, in the meantime, you do not own it (therefore you cannot sell it). What you can sell is this right to live in it (until such time as the 125 years contract expires). Nothing to do with the land the flat sits on (which is indeed usually leasehold for flats, except perhaps for ground floor flats). I don't usually fatten pockets of builders/promoters when I choose to give to charities, btw Go to the site and have a look at the FAQ: 'can I rent the apartment?' Yes, etc, etc. Funnily enough, there's no 'can I sell the apartment?' QED You're arguing a non point?? You're suggesting the competitions a con! It's not. You win a flat - as much as a person can ever own a flat. Quit your crazy and confrontational jibber jabber Link to comment Share on other sites More sharing options...
shinyhappy68 Posted January 16, 2009 Share Posted January 16, 2009 Before anyone gets involved in this I would suggest they take a look at this http://www.winadevonpropertywithfishing.co.uk This raffle was originally approved by the gambling commision then subsequently put on hold. There is a million pounds sat with paypal until it is sorted Buy the looks of the website for Riverdale Construction, they seem to pretty clued up on things, and as a company who purchases "Brown" sites for development, they must have knowledge of legal issues surrounding a wide area in the construction/property field. Im sure they have done their homework. Link to comment Share on other sites More sharing options...
Thorpist Posted January 16, 2009 Share Posted January 16, 2009 I wonder how many clued up people did their homework when investing in Madoffs schemes Link to comment Share on other sites More sharing options...
kidley Posted January 16, 2009 Share Posted January 16, 2009 Come on which one of you has bought one 3 gone now Link to comment Share on other sites More sharing options...
Betrayed1 Posted January 16, 2009 Share Posted January 16, 2009 I just been on the site, and correct me if Im wrong, they have 9999 tickets left to sell at £50 a ticket, that would bring in £499,950, they donate £20,000 to chairty, means they net £479,950 in advance to RENT it out for the next 125years. I might auction my house in this way, Id be quids in! Does anyone want to win my car for £1, I will be holding the draw after I sell 50,000 tickets (That should be enough to get me one of those gas guzzling Hummers top of the range model, he says rubbing his hands together). My car is a M reg Scorpio (Ultima) 2.0 Petrol. Well worth a quid! Probably £2 at least! (Please note, this competition is to hire the car free for the next 125 years, NOT to own the car!) Link to comment Share on other sites More sharing options...
theripsaw Posted January 16, 2009 Share Posted January 16, 2009 I just been on the site, and correct me if Im wrong, they have 9999 tickets left to sell at £50 a ticket, that would bring in £499,950, Ok, they are sellin 3600 tickets in total. That would bring in 3600 x £50 = 180,000 (to 'own' an apartment) Link to comment Share on other sites More sharing options...
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