In a surprising turn of events, Meghan and Harry have been forced to vacate their Montecito mansion after the new owner decided to cancel their rent contract.
Despite borrowing $7 million from Tyler Perry, the Duke and Duchess of Sussex’s names were not found on any grant deeds related to the property.
Public records reveal that the estate was sold in June to a mysterious trust with a deliberately opaque name.
Interestingly, this trust shares a mailing address with Meghan Markle’s longtime Hollywood business manager.
The buyers of the property managed to secure a $9.5 million mortgage to acquire the 7.4-acre compound, which is located on a private gated street.
Although Meghan and Harry paid a hefty price for the mansion, it can be argued that they obtained it at a discount.
The previous owner, Russian businessman Sergey Grishin, purchased the estate in 2009 for $25.3 million.
However, financial difficulties forced Meghan and Harry to rely on a mortgage for the full payment, leading to potential complications with the seller.
Tragically, Charles, the seller, passed away in March 2023 at the age of 56 due to a brain hemorrhage.
His wife, who now holds the papers and contract for the villa, may choose to enforce the agreement and evict Meghan and Harry.
The couple had negotiated the inclusion of furnishings and decor in the purchase, making it a turnkey property.
This arrangement was particularly appealing since the property had been on the market for some time, and the seller was willing to sweeten the deal by including the furnishings.
Rumors suggest that Tyler Perry had to lend millions of dollars to Meghan and Harry to help them settle their financial obligations.
However, given Meghan’s reputation for obfuscation and dishonesty, there is always reason to question the validity of such claims.
With the passing of Sergey Grishin, his wife now holds the power to remove the Sussexes from the property, provided someone is willing to purchase and maintain it.
The recorded sale price for the mansion on June 9, 2020, was $14.6 million, marking a significant loss for Sergey Grishin who purchased it for $25.2 million in 2009.
The property’s assessed value was $26 million in 2019, leading to annual property taxes of $282,000.
However, following the sale, the assessed value was updated to $13.5 million, resulting in a reduced tax amount of $144,000 per year.
The Montecito mansion boasts nine bedrooms and fourteen bathrooms, thirteen full and one half.
Contrary to previous reports, there are not sixteen bathrooms in the property.
Built in 2003, the house also features six fireplaces, a pool house spanning 903 square feet, and a garage covering 1,760 square feet.
Additionally, it offers a pool, spa, and sits on a vast lot measuring 234,353 square feet or 5.38 acres.
As the future unfolds, the fate of Meghan and Harry’s housing situation remains uncertain.
