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Originally posted by worldwatcher
reply to post by Crakeur
I read claims by some unnamed source that he has 200 unpublished songs that he left to his kids, perhaps that is what the fight is about. Millions can be made from album after his death, Tupac is still making music, I'm sure Michael will be still making music years from now too.
Originally posted by Crakeur
the music rights he owns (his, beatles etc) are worth a fortune but, here's the sad part, if you inherit the rights to all that music and you owe $500 million dollars, you have two options. Sell the rights to pay off the debt or whore out the songs, trying to make the money to pay off the debts immediately.
Also, if the rights are worth, say, $500 million, there might be some estate taxes to pay and you cannot transfer ownership from the deceased to the beneficiaries until the taxes and, perhaps other debts, are paid off.
So, the family will wind up with little is my guess because they will be forced to unload the assets to pay the debt and potential buyers will know this and take advantage of it. Paul, time to get your songs back.