Prince’s sister Tyka Nelson has sold off a chunk of his estate, amid her ongoing financial woes.
According to court documents obtained by The Blast, the late singer’s sister has informed the court she has sold a portion of her one-sixth share of Prince’s estate. She explains, “I am one of the six (6) non-excluded heirs in these probate proceedings (the
"Estate"). I have the opportunity to consult with separate legal counsel and financial advisors and have been fully advised by my legal counsel and financial advisors of the rights I enjoy as an heir to the Estate and the legal, financial, and personal implications of entering into the Expectancy Interest Transfer Agreement.
Further, “I am aware of the terms of the Expectancy Interest Transfer Agreement. I know that I am selling a portion of my one-sixth (1/6th) share of the Estate and am entering into this transaction willingly and with an understanding of the nature of the transaction. I wish to sell my portion of my one-sixth (7 / 6th) share of the Estate in order to realize some value from the Estate before the completion of the Estate administration. Tyka sold her the interest to a third party company Primary Wave IP Fund. She wants the company to be involved in “all matters related to the Estate” now that they have an interest.
Primary Wave filed documents requesting the terms of the sale be kept sealed. They want to be sealed, “confidential information relating to Primary Wave’s transaction with an heir, Tyka Nelson (“Ms. Nelson”), whereby Ms. Nelson agreed to transfer a portion of her one- sixth (1/6th) interest in the estate of Prince Rogers Nelson (“the Estate”) to Primary Wave through an Expectancy Interest Transfer Agreement.