Birdman has given up his fight to save his Miami mansion from being taken in his $12 million legal battle and has decided to sell the property rather than fight it out in court.
According to court documents obtained by The Blast, Birdman has agreed to sell Scott Storch’s former mansion. He purchased the 9-bedroom, 17-bath mansion with 25-foot ceilings features a below ground pool, outdoor pool with cabana, a movie theater, gym, spa, an in-house massage room, and a private dock for $14.5 million in 2012.
Birdman and the company suing him have reached a deal to sell the home to a third party “as is” for $13,500,000.
The music mogul was sued by a company named EMG Transfer Agent who accused him of borrowing $12 million and putting his Miami home up as collateral. But then he defaulted on the loan and they sued him for the $12 million, plus interest.
The judge granted their motion and appointed a receiver in the court to take possession of Birdman’s home. The appointed person took the home from Birdman and handled the property including all repairs and upkeep.
Birdman’s mansion isn’t the only ongoing ordeal that is coming to an end. As The Blast first reported, Lil Wayne has finally settled his lawsuit with Birdman, Cash Money, and Universal Records. Weezy will receive a payout in excess of $10 million, but none of the money is coming from Birdman.