1. Money
Julie Garber

Britney Spears' Beverly Hills Home Sold Without Probate Court Hearing

By May 2, 2012

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In March it was revealed that the Beverly Hills home where pop tart Britney Spears had a mental breakdown back in 2008 had come on the market for $2.995 million. Since Ms. Spears has been under a court-supervised conservatorship due to the breakdown, with her father, Jamie Spears, acting as her conservator, approval of the sale of the home could have been subject to a hearing in front of the probate judge who is overseeing the conservatorship. This would have essentially resulted in a bidding war since anyone could have attended the hearing and outbid the offer presented to the probate judge for approval. Instead, Jamie Spears decided to accept a $4.253 million offer and forgo a bidding war. While this is significantly above the asking price (rumor has it that the realtors who were handling the listing, The Sanborn Team, intentionally undervalued the list price in order to spark a bidding war), it is still less than the $6.8 million Ms. Spears paid for the property back in 2007.

Another twist to Ms. Spears' court-supervised conservatorship is the appointment of her fiancÚ, Jason Trawick, as a co-conservator back on April 25. This was apparently done at the suggestion of Simon Cowell in order to facilitate the contract negotiations aimed at making Ms. Spears a judge on The X Factor.

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