Affidavit for Alison Hauck to Represent Estate10 -PR -1646
Filed in First Judicial District Court
8/9/2016 2:54:57 PM
Carver County, MN
STATE OF MINNESOTA
COUNTY OF CARVER
In the Matter of-.
Estate of Prince Rogers Nelson
Decedent,
and
Tyka Nelson,
Petitioner,
DISTRICT COURT
FIRST JUDICIAL DISTRICT
PROBATE DIVISION'
Case Type; Special Administration
Court File No. 10 -PR -16.16
AFFIDAVIT OF ALISON A. HAUCK
Alison A. Hauck, being first duly sworn upon oath, deposes and says as follows:
1. I am over the age of IS years and competent to testify' regarding the facts and
matters stated herein. which are based on my Personal knowledge.
2. 1 am a tont offiar for Bremer Trust National Association, the Court-appointed
Special Administrator of the Estate of Prince Rogers Nelson ('Estate"), 3peeiaftng in trust and
nmteadminisuation,
3. 1 make this affidavit in support of the Special Administrator's request for advance
approval to list and sell various ivaI estate holdings of the Estate for at least ninety percent (90 &)
Of the appraised fair market value.
4. 1 have been employed by Bremer since October, 2006. My services involve all
aspects of estate administration, with a specialty in managing all aspects of residential and
commercial properties, including but not limited to completing annual inspections and miews,
preparing leases, interviewing appraisers, ordering appraisals, arranging for property
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10 -PR -16-46
management, bill PayMenL remittances and receipts, reviewing closing dacumants, and
compliance managemem including farmland and mineral, oil and gas assets.
S. l and others employed by the Special Administrator have participated in due
diligence regarding the inspeodon, appraisal of and potential sale of certain real estate holdings
ofthe Estate.
6. The properties that the Special Administrator is currently anticipating will be sold,
and the appraised value of sane, are listed in spreadsheet attached as pxhibv A
7. 1 and others employed by the Special Administrator, in coordination with its
Vtomeys at Stinson Leonard Street LLP, initiated an RFP process for interviewing and =]acting
Potential real estate agents/brokers to list, market and eVenttualty sell certain properties owned by
the Estate.
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Carver County, MN
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S. During the interview process, the Special Administrator inquired as to the
following relative to each potential agenubroker and the mleomt property(les) to be listed for
sale:
• Estimated list price;
Additional estimated costs;
• Level of experience;
• Knowledge of the relevant marketplace;
• Expected commissions on sales
• Term of listing agreement;
Reasonable repairs or maintenance necessary for efficient sale; and
• Competitive advarnageshpecial skills.
9. The Special Administrator believes that the real estate agents/brokers it has
selected will assist in maximizing the value of the Estau's real property. In order to do so,
however, they wit I need to hnniediately begin to list and market the properties to take advantage
Of the current market and to allow sufficient time for preparation and sale.
10. The listing and sale of various real estare holdings will allow the Estate to
increase its liquidity position to service estimated estate and income tax liabilities and improve
its ability to meet ongoing administration expense obligations. As to the real estate parcels at
issue, their costs of repair and ongoing maintenance are such that carrying these properties is not
in the Estate's ben interest. The Court's advance approval of the performance of the tasks of
listing and selling these properties will streamline the process and eliminate additional and
unnecessary hearings, pleadings and the attendant professional fees associated with same.
11. 1 understand that attorneys at Stinson Leonard Sweet LLP, on behalf of the
Special Administrator, have shared the information contained above with counsel for the
interested persons who have appeared in this action.
12. The disclosure of the identity of the maliors under consideration would be
detrimental to the Estate as we negotiate listing agreements. Also, the public disclosure of the
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Filed in First Judicial District Court
8/9/2016 2:54:57 PM
Carver County, MN
10 -PR -16-46
appraised values of than properties would also hamper the ability elf the Special Administntur
and its attenis to negotiate sale terms that maximin the return to the Estate them selling the real
Mate assets idcntilfed in Mxhibil A.
iunher affiant sayeth not.
Dated:
Subscribed and swom to bete,
me tills 29'" day of July. 2016.
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Filed in First Judicial District Court
8/9/2016 2:54:57 PM
Carver County, MN
10 -PR -16-46
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Filed in First Judicial District Court
8/9/2016 2:54:57 PM
Carver County, MN
10 -PR -16-46
Filed in First Judicial District Court
8/9/2016 2:54:57 PM
Carver County, AN
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