May 31, 2012
By: John Clark
Popular rapper Young Buck, whose real name is David Darnell Brown, was reportedly evicted from his Tennessee mansion after a bankruptcy court sold his home in an effort to pay off his massive tax debts, according to a report from Reuters.
Sources say that the 31-year-old entertainer was ordered to move out of his 5,000-square-foot home last week, and Young Buck was recently seen by observers carrying boxes out of his mansion.
Selling a home is a somewhat rare occurrence during a Chapter 7 bankruptcy proceeding, but Young Buck apparently owes more than $330,000 in unpaid taxes to the government, and the bankruptcy judge decided to sell the rapper’s home in order to help pay off his debts.
Recently, IRS agents raided Young Buck’s home and seized most of his possessions, including his watches, his craps table, his tattoo kit, his refrigerator, and even his white leather dining chairs, according to sources.
The artist, who ironically penned the rap classic, “Straight Outta Cashville,” has not told sources how much the house is worth, but if the judge is willing to sell it, then it will likely provide enough cash to settle his tax debts.
The rapper bought his mansion in 2004, but has since seen a fall from financial grace, which culminated in his decision to file for Chapter 11 bankruptcy a few months ago.
Soon, however, Young Buck changed his bankruptcy filing to a Chapter 7 case, which allows the court to sell some of his assets if such a sale is necessary to meet certain debts.
In addition to his lost furniture and mansion, Young Buck also stands to lose the rights to his music catalog. Surprisingly, the rapper may also lose his rights to the name “Young Buck,” which will reportedly be auctioned off soon.
And Young Buck’s efforts to learn more about bankruptcy have been hampered by other kinds of legal trouble that threaten to send the rapper to jail.
According to sources, Young Buck recently announced through a web video that he was preparing to go to prison for two months, although he did not specify why he believed he was headed to prison.
Sources speculate, though, that Young Buck’s legal issues stem from a previous gun charge.
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