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GiveWithoutGiving.org is
providing home owners with free ad-based virtual billboards and linking
them with registered 501(c) non-profits as an
alternative to selling their home in this trouble housing market. In today's economic climate
and current mortgage crisis, it can be a challenge to sell your home.
There's another option you may not have considered -- give it away! It's not as crazy as
it sounds...with the People's Bailout, you can run an ad-based promotion
with your free virtual
billboard where your home is the prize and a
designated 501(c) non-profit is the beneficiary! For
every ad block someone purchases on your virtual billboard, they receive
an entry into a drawing to win your home. The drawing is not validated
until a minimum number of ad blocks have been sold. Proceeds from your ad
revenues are used to settle any debts associated to the home; hence,
allowing you to give it away free-and-clear of all debt and with instant
equity to the winner! Any remaining balance after all debts have been
settled and the home has been awarded to the winner will be donated to a
designated 501(c) non-profit. You set the price and the
minimum number of ad blocks required for your promotion. Buyers can use their ad blocks however they
like -- maybe promote a business, or share a personal or inspirational message with those
that visit the virtual billboard.
This program is offered by GiveWithoutGiving.org (referred to as GWG for
the remainder of this document). GWG connects home owners with
participating 501(c) non-profits as an alternative to selling a home in
this troubled housing market. For home owners willing to surrender their
home as a prize in exchange for all
associated debts being settled, GWG will connect these home owners with
a
participating 501(c) non-profit to run a home give-away promotion. It is
the responsibility of the 501(c) non-profit and the home owner to
determine the legal compliance within the their State to run a home
give-away promotion. GWG provides a free online virtual billboard service for
the 501(c) non-profit and the home owner to run a home give-away
promotion. GWG also provides a free real estate listing service buyers
and sellers can
use to locate homes participating in a home give-away promotion.
The "People's Bailout Program" by GWG is an
advertising program, and not considered a raffle or home give-away
contest. Participants purchase ad space on a virtual billboard that
can be used to promote a business or personal message. For every $50 a
participant spends on ad space, they are entered into a home give-away
promotion administered by GWG. The distinction between a "contest" and a
"promotion" is important in that a home give-away contest can be considered a raffle
in many states according to State gaming and lottery laws; hence a home give-away contest must be
held by a licensed 501(c) non-profit organization. For additional
guidance on this issue, please contact the appropriate State agency (http://www.gambling-law-us.com/Useful-Sites/State-Gambling-Agencies.htm). GWG serves as
the administrator for the
home owner and the designated 501(c) non-profit organization to
execute a home give-away promotion. GWG is not responsible for determining
the legal compliance of a home give-away promotion in a given State.
In most
States, a home give-away contest must involve 3
key elements:
-
A Prize,
Consideration
-
A Skill
Question
-
An Entry Form to win
LEGAL NECESSITIES: DISCLAIMERS, TAXES, AND COPYRIGHT / PUBLICATION
A. The
registered property owner for a given promotion make no guarantees or warranties, of any sort
whatsoever, concerning the subject of real property, the homes located
thereon, or any of the structures or mechanical systems located on the
subject properties. Properties are offered “as is”. However,
owners will provide disclosure forms, upon request, on the property sites to indicate the condition of properties are legal and truthful. There are no known undisclosed defects in
listed properties. Properties are a fully operational single family homes,
and maintained as such.
B. Current property owners are using numerous methods in the advertising of
their respective promotions, therefore by participating in a promotion
or accepting these properties as the prize won, all entrants agree to
release the current owners, relatives, friends or any communications
companies, their parent, subsidiary, affiliated and successor companies,
advertising or promotional agencies and each of their respective
officers, director, agents, representatives, and employees from any and
all actions, claims, injury, loss or damage arising in any manner,
directly or indirectly, from participating in a promotion and/or acceptance or use of the
prize.
C. All
promotion winners are subject to paying taxes on their winnings. Therefore
the winner of a given property will be obligated to pay taxes on the
property. However, with a debt-free warranty deed providing the winner
with thousands of dollars of built-in equity, this should not be a
financial burden to the winner.
D. Each
promotion entry constitutes an assignment to the current owners of all
copyrights arising under both statutes and the common law and all other
derivatives thereof. Current owners for reasons related to their
belief in ones right to privacy, declare in this statement that they
will not exercise their right to release names or addresses as they
relate to the entrant’s Entry Form exception, of course, to the winner’s
name. Announcement of the winner’s name, however, is necessary to comply
with promotion rules.
E. There will
be only one (1) winner chosen from the qualified entries for a given
promotion received during
the Promotion Period with the minimum number of qualified entries
determined by home owner and participating 501(c) non-profit. If the Minimum numbers
entries are achieved the winner of given promotion will be awarded a
warranty deed to the residence of given promotion as described in the
legal description in the existing title. The prize cannot be substituted
or redeemed for cash. Prize is NOT TRANSFERABLE.
Promotion prizes
will be granted free from any mortgage with property taxes paid up to
date at time of closing. Properties will be granted with title
insurance included in closing costs through the title company. All
normal closing costs will also be covered by the Sponsor of given
Promotion, which is limited to title company services for proper legal
process and related mailing fees for signatures related to the legal
transfer of given property. The winner will be responsible for their own
transportation, hotel expenses or any other travel expenses or fees
related to attending the closing and paying taxes.
The transfer
of the residence of given promotion will be awarded by the title company on or before three (3) months
following the end of given Promotion Period. Exact closing date shall be set
by the title company. All federal, state, and local taxes are the sole
responsibility of the Promotion winner. The residence is awarded “AS IS”
and WITHOUT WARRANTY OF ANY KIND BY SPONSOR OR ANY OTHER PERSON,
expressed or implied, (including, without limitation, any implied
warranty of merchantability or fitness for a particular purpose.)
Except where
prohibited by law, the winner must execute and provide to Sponsor the
following: (1) Affidavit of Eligibility, attesting to the winner’s
eligibility and compliance with the Official Rules; (2) a Liability
Release, releasing Sponsor from any liability arising out of the
Promotion; and (3) a Publicity Release, allowing Sponsor to use the
winner’s name, likeness, voice and biographical information for
publicity purposes. Winner will also be required to provide any other
information needed by Sponsor to comply with applicable laws and
regulations, including those relating to the payment of income taxes. By
accepting a prize, winner grants Sponsor permission for the use of
his/her name, likeness and biographical information for advertising and
promotional purposes without additional compensation, except where
prohibited by law.
F. In the event the minimum
requirements are not met so as to award the home as described in the
promotion guidelines, a cash prize will be awarded per the conditions
described in the promotion. If the cash prize is not claimed by the
winner within 90-days of the completion of the promotion, it will be
forfeited and applied to the GWG General Relief Fund.
G. All
reasonable efforts have been made to provide for accuracy in the
representations made on this web site, but the current owners of the
property, their employees and assignees can not be held responsible for
unintentional typographical or similar errors. |
