A lucky winner will be the new owner of a Corning horse farm, and they will only have to pay $150. Tim and Maggie Lott will give their home to the winner of an essay contest.

So what's the catch?         

They also tell Spectrum News the winner will get $10,000. The Victorian-style house sits on five acres. In your essay you just have to focus on what it would mean to own the home.

There are just a few rules. First, the $150 entry fee. Then the essay has to be between 500 and 1,000 words. And finally, the essay must be in by July 1.

“Opening up your world to strangers. Thousands of strangers publicly like this, its a little nerve racking. Making sure that we're legal and lawful and it's an integrity based contest," Lott said.

The winner will be announced later in July.

For more information on contest specifics, click here.