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Real estate transactions: Alberta woman to give mansion away

Apparently, many Canadians would love to live in a mansion. A woman from Millarville decided to run a lottery with the winner getting her luxury Alberta home worth $1.7 million. She is asking those who would like to take over the digs to write a letter as to why, along with a $25 entry fee. In terms of potential real estate transactions, that's pretty cheap.

The woman is looking to get about 65,000 entries and it looks as though she could meet her goal since she has received thousands so far -- some from as far away as China. The woman, who suffers from back problems, said it was time for her to move into a smaller home rather than continue to live in one that's 5,000 square feet. The first day alone, the woman received 900 letters, the best of which will be judged by an independent panel to come up with the winning story.

She said the letters she has been receiving touch her heart and many people are having a tough time of it all around the world. But, she has received a great number of entries from Albertans as well. She will continue to receive submissions until April 5. 

There are always documents associated with real estate transactions, even in unique circumstances such as this one. A lawyer should be involved in looking over any pertinent contracts that accompany any potential transaction to ensure all issues adhere to the letter of the law. A lawyer will always be cognizant of the best interests of his or her client whether the client is a vendor or a purchaser.

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