A court commissioner approved the sale of a piece of property in Louisiana owned by singer Britney Spears to her father for nearly $60,000.
Los Angeles Superior Court Commissioner Brenda Penny issued her ruling Tuesday, approving a petition filed by attorney Andrew Wallet on behalf of the entertainer’s estate.
Wallett and the singer’s father are co-conservators of the entertainer, who was given the protection in February 2008 after exhibiting bizarre behavior.
Jamie Spears’ purchase of the property is in the best interests of his daughter, Wallet’s court papers state.
The property is located in Tangiapahoa Parish in Louisiana. The 35-year- old singer was born in that parish in the city of Kentwood. Wallet’s court papers state that the land is a little more than a third of an acre and includes “buildings and improvements.”
Jamie Spears bought the property before his daughter’s conservatorship was established. The land was subsequently purchased in February 2002 for $56,000 by the manager of Bridgemore Timber LLC, a company owned by the singer and which is now an asset of the conservatorship estate, Wallet’s court papers state.
“The fair market value of the property has been steadily decreasing since that time and is not revenue-producing,” according to Wallet’s court papers.
However, the estate has continued to pay property taxes on the land and the net paid when those amounts are added in is $59,688, the exact amount Jamie Spears agreed to pay for it, Wallet’s court papers state.
—City News Service
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