Can I Purchase the Home of a Late Celebrity?

If the estate puts a residence up for sale, anyone with means could buy it.

Are you looking to purchase the home of a famous individual?

Are you a fan of bluegrass music?

If so, an opportunity may present itself.

According to a recent USA Today article titled “Bill Monroe estate to sell historic property,” Bill Monroe’s Kentucky home is for sale.

Where is this home?
The cabin is being sold for an asking price of $550,000 and sits on 2 ½ acres of land.

What makes this so special?

Bill Monroe was a decorated bluegrass artist.

The first song Elvis recorded was Monroe's "Blue Moon of Kentucky."

One of his most famous songs is “Uncle Pen.”

This particular cabin belonged to his uncle Pendleton Vandiver, the namesake of the song.

Bill was taken in by his uncle after his parents died when he was 16.

It was in this home where he practiced and polished his music.

When Vandiver died, the bank got the property.

In 1973, it returned to the Monroe family.

How?

James Monroe bought the property back for his father.

Quite a lot of history for one home!

Located in Rosine, Kentucky, the home is a short walk from the cemetery where Monroe and Vandiver were laid to rest.

It is also a mere 110 miles from Nashville, TN.

Right now the home allows for visitors from May to October.

In addition to the home, the purchase includes name, merchandising ad image rights to Pendleton Vandiver and several home items.

What are some of these items?

Two of the items are a Stetson hat belonging to Monroe and a BMI award for the song “Uncle Pen.”

You could also separately purchase a fiddle Monroe used with members of his Blue Grass Boys band or the tuning keys for his prized Gibson f-5 mandolin.

If you are interested, you should probably act fast!

Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.

For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.

Reference: USA Today (April 25, 2017) “Bill Monroe estate to sell historic property”

Note: Cabin Photo by Webster Public Relations