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25th January 2020
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Aretha Franklin’s estate to sell off her properties to cover debt

Aretha Franklin's estate to sell off her properties to cover debt
Aretha Franklin's estate to sell off her properties to cover debt
Late soul queen, Aretha Franklin is no longer news that before her death, she was in debt of over $5.2million, and now her estate are trying to offset that by selling off some of her landed properties.

According to the report by The Blast magazine, the late singer’s estate are seeking the permission of the court to allow it sell off some properties in the Bloomfield Hills, Michigan to pay off a tax debt of over $5millon.

The magazine reported that the 1.05-acre lot was purchased by Franklin years ago and the estate is offering it for $1.4 million — the price includes a home being built on the land for the buyer.

The estate notes that they want to sell off the property to liquidate estate assets and to eliminate unnecessary estate expenses. They also claim the value of the remaining personal property is undetermined at this time.

The court docs reveal the estate owes $100,000 in debts and another $5.2 million in taxes, which means they paid off a chunk of the $6.3 million the IRS said they were owed originally.

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