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Judge Grants Approval to Sell Michael Jackson House

MsMo

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Posted by Jeremy Thomas on 02.23.2012

Jackson's estate can buy another place for Katherine and the kids...

The Michael Jackson estate has gotten approval to sell Jackson's Hayvenhurst mansion, where his mother and children live. TMZ reports that the estate isn't currently planning to sell the home, as it's being renovated, but wanted the ability to do so whenever it chose. With this ruling they now have that right and can buy another house for Katherine Jackson and Michael's children.

The judge also allowed the executors to put $30 million in the Jackson Family Trust for the benefit of Katherine, Jackson's kids, and his charities.

http://www.411mania.com/music/news/226180/Judge-Grants-Approval-to-Sell-Michael-Jackson-House.htm
 
Note: the Michael Jackson Estate has not made a request to sell the Neverland Valley Ranch.
 
Guys didn't this happen before about funding the trust? It seems we had threads about the estate asking for permission to sell the home, and another about funding the trust.
 
Could it be that it will become a museum :unsure:

One for the entire family, of course :smilerolleyes:
 
Petrarose said:
Guys didn't this happen before about funding the trust? It seems we had threads about the estate asking for permission to sell the home, and another about funding the trust.
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They were asking for permission before and now it has been stipulated by the Judge

This is from Sept 13, 2011 when they requsted permission
A huge development in the Michael Jackson Estate case. The Executors have done so well making money for the Estate since Jackson died, they want to fund the Michael Jackson Trust to the tune of $30 million for the benefit of Katherine Jackson and Michael's 3 kids.

TMZ has obtained court documents in which co-Executors John Branca and John McClain are asking the court's permission to fund the trust. According to the docs, the Estate generated more than $310 million in gross revenues as of December 31, 2010 -- that's the latest accounting.

In addition to funding the trust, the Executors are asking the court's permission to sell the longtime family home on Hayvenhurst Avenue in Encino, CA
http://www.tmz.com/2011/09/13/micha...aris-blanket-john-branca-john-mcclain-estate/
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MsMo said:
Could it be that it will become a museum :unsure:

One for the entire family, of course :smilerolleyes:
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Yes I think Estate will eventually use it as Musuem of sorts. I dont think the Estate is going to allow it to
become a flop house where everybody and their brother move back in again rent free .
 
qbee said:
Yes I think Estate will eventually use it as Musuem of sorts. I dont think the Estate is going to allow it to
become a flop house where everybody and their brother move back in again rent free .
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Exactly.

Historical Property/Mills Act

In order to qualify, the structure must be a designated historic building. The designation can be at the local, state, or national level. As a general rule, to qualify as historic, a building must be at least 50 years old and be a good example of a particular architectural style or be associated with a person or event of local, statewide, or national historic importance.

http://www.boe.ca.gov/proptaxes/faqs/faqs_mills_act.htm#1
 
Is Hayvenhurst still co-owned by Latoya or Michael is the sole owner?
 
No, Michael owned it in full at the time of his passing. Latoya wishes she owns part of it.
 
IMO, and I may be wrong, but I think Michael kept Havenhurst for one reason, Katherine and if she no longer wishes to reside in it and if there is no benefit of any nature (ie if it's just going to sit empty) then it should be sold.
 
He lived their as a kid, through Thriller right until Bad. Michael remodelled the home completely in the early 80's and his personal touches are all over it, including the Memory Room. I think it's an appropriate and feasible place for a museum.

Most people believe Neverland to be the ideal place, but it doesn't completely belong to the Estate to do whatever and the cost of restoring the place, and running it would be massive. I read that it cost Michael about USD 4 Million annually for maintenance. Considering that, the Encino home is a safer bet for a museum if the Estate has plans for anything of the sort.
 
@Rhilo Yes I agree that it would be the most obvious place for a museum if there were to be one. However if it is just going to sit empty then the logical move would be to sell it. I do wonder though if it were to become a museum how much imput the rest of the family would have. To be fair although Michael owned it the other siblings lived there from a young age as well so therefore it would it become a Jackson family museum of which the family would be entiltled to profit?

I'm not suggesting that they should or shouldn't profit I'm simply thinking out loud as too how much of a headache it could potentially cause if the whole family were involved. (Going by history LOL)
 
Update from TMZ:

Katherine's lawyer, Perry Sanders, tells TMZ, "It is our understanding that the motion to sell Hayvenhurst was withdrawn and this is merely for permission to buy a different place for the beneficiaries to reside." He adds, "Neither Mrs. Jackson nor Michael's children want Hayvenhurst to be sold and we are not aware of any intention on the part of the estate to resubmit a request to sell the family home."

http://www.tmz.com/2012/02/23/kathe...son-estate-sell-home-havenhurst/#.T0kejYcgeq8
 
Jermaine tweets....
http://www.twitlonger.com/show/g47l6m


HAYVENHURST IS NOT BEING SOLD. I can assure you that Mother's position remains the same and I'm told the Estate is honoring her strong wishes.


As I understand it, what has happened is a technical requirement where a judge has approved the right to sell in the theoretical event that Mother changes her mind. But, for as long as her advisors have her interests and wishes at heart, she won't.


I hope the Estate releases a statement to reassure the fans and end all ambiguity about the sacrosanct nature of Hayvenhurst's long-term future.
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Is jerm worried he might no have anywhere in the future to dump his kids and exs. funny how he wants a statement to reasure fans when its him whos looking for the reasurence. alot of fans dont care one way or the other
 
Jermaine likes to be a speaking person lol. He'd better comment Tohme subject.
 
I don't see the point in the house just sitting there empty and not doing anything, waste of money IMO that would benefit the charities.
 
I`m glad they don`t sell it. It`s a historic house.
 
LastTear said:
I don't see the point in the house just sitting there empty and not doing anything, waste of money IMO that would benefit the charities.
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True. katherine cant expect to have a new house yet still wants to keep hayvernhurst. the executors are supp to do the best for the estate and keeping a house and its expenses financially isnt viable. katherines just wants to keep a dumping ground for her other kids. if hayverhurst goes thens there no where left for them
 
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That's how I feel @elusive but I would be very surprised if the Estate allow any other Jacksons to live there with all expenses paid. I would imagine if the Estate insisted on selling then children would be hauled out again to say they didn't want it sold.
 
LastTear said:
I don't see the point in the house just sitting there empty and not doing anything, waste of money IMO that would benefit the charities.
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Yes, but I prefer to see it as a museum. Michael re-designed it himself including trophy room. I do not want this to be destroyed by the new owners. Michael spent many years in this house.

Michael really had just three real homes over his life, this is not too much to preserve.
 
"Katherine's lawyer, Perry Sanders, tells TMZ, "It is our understanding that the motion to sell Hayvenhurst was withdrawn and this is merely for permission to buy a different place for the beneficiaries to reside." *He adds, "Neither Mrs. Jackson nor Michael's children want Hayvenhurst to be sold and we are not aware of any intention on the part of the estate to resubmit a request to sell the family home."
 
MsCassieMollie said:
Jermaine tweets....

HAYVENHURST IS NOT BEING SOLD. I can assure you that Mother's position remains the same and I'm told the Estate is honoring her strong wishes.

As I understand it, what has happened is a technical requirement where a judge has approved the right to sell in the theoretical event that Mother changes her mind. But, for as long as her advisors have her interests and wishes at heart, she won't.

I hope the Estate releases a statement to reassure the fans and end all ambiguity about the sacrosanct nature of Hayvenhurst's long-term future.
Click to expand...
Vici said:
"Katherine's lawyer, Perry Sanders, tells TMZ, "It is our understanding that the motion to sell Hayvenhurst was withdrawn and this is merely for permission to buy a different place for the beneficiaries to reside." *He adds, "Neither Mrs. Jackson nor Michael's children want Hayvenhurst to be sold and we are not aware of any intention on the part of the estate to resubmit a request to sell the family home."
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I think the above statements bring us closer to the truth of the matter. TMZ is off the mark as usual. They intentionaly leave off info or twist stories so they can post a 2nd article about any given topic. Its more profitable for them to do it that way.
They dont care if it blurs the truth or not. They are not in the businees of $elling the truth. Thats why We should always take everything TMZ states with a grain salt and wait for all the facts to come in.
 
It's been withdrawn since September 2011

09/28/2011 at 01:30 pm in Department 5, Mitchell L. Beckloff, Presiding
AUTH-ENTER PARTICULAR TRANSACTION (PET FOR ORD AUTH EXEC TO ENTERINTO CONTRACT GRANTING EXCLUSIVERIGHT TO SELL - OK SET FOR 9-28-11IN D-5 WITHDRAWN) - Off Calendar
 
I find it funny that Jermaine had all this energy to post about Hayvenhurst, but didn't say crap about Murray and how the family decided not to ask for money to go after AEG or even about Murray trying to get out of jail while his appeal is being approve. I guess that really shows where his priorities lies, although we already knew.
 
LOL why has Jermaine got so worked up about it? The house doesn't even belong to him. You guys are probably right. It's a potential income source to him. It has been in the past.

Although I'm sure the Estate wouldn't tolerate it being a dump house for the Jacksons, they kicked out Alejandra and her kids just last year, Jermaine can use it every now and then for the adhoc interview. He did the same with Neverland. The way I see it, if there is no use for it as a house for Michael's beneficiaries or a museum (that will generate income), the Estate is better of selling it because it'll be a burden on their resources.
 
Ramona122003 said:
I find it funny that Jermaine had all this energy to post about Hayvenhurst, but didn't say crap about Murray and how the family decided not to ask for money to go after AEG or even about Murray trying to get out of jail while his appeal is being approve. I guess that really shows where his priorities lies, although we already knew.
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That is just sad. The only time we hear anger or frustration is when it comes to money.
 
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