Newton’s Case de Shenandoah estate went up for auction sale on Friday and under a bankruptcy court ruling, prospective buyers must post a five percent cash deposit of their proposed price by May 15. The auction is scheduled for May 15, but Newton has appealed the sale order, reported the Associated Press. Making the deal a little challenging are the ongoing leases on the three houses spanning the 38-acre estate and the Arabian horses still grazing on the land. Earlier plans to convert the estate into a theme park celebrating the veteran entertainer’s career fell through last year.
The Las Vegas Review-Journal reports that Newton and his wife have also filed legal papers to move part or all of the bankruptcy case of CSD (the entity that owns the estate) back to district court. CSD, which is reportedly partially owned by Texas business Lacy Harber initiated legal proceedings to terminate the leases on the property, which would force the Newtons and the Arabian horses off the land.
Buyers beware. Even the bankruptcy court has acknowledged that trying to sell the property with these conditions would be “challenging.”
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