It seems like Birdman might just have to bid farewell to living large for a moment due to his financial woes, which have reportedly taken a turn for the worse.
The Cash Money mogul was reportedly forced to surrender the keys to his luxurious $12 million mansion in Miami, The Blast reports.
The repossession of his home stems from a strenuous lawsuit with EMG Transfer Agent, which accused the producer of failing to pay a $12 million loan. The mansion, which was bought for $14.5 million in 2012, was ultimately put up as collateral for the loan, according to The Blast.
The court reportedly appointed a representative that will seize control of Birdman’s former residence, along with its contracts, leases and rental agreement. The rep will also hold on to the home’s furniture and equipment, including several recliners in the theater room, golden chairs and foyer.
A judge mandated that the property cannot be sold or transferred until the entire legal issue is resolved. It can be rented or leased in the meantime, however. It is unclear where Birdman is moving to, but maybe he’ll move in with his reported boo, Toni Braxton.
Picture credit: The Real Deal
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