James Brown's debt could cost him his island home
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Posted 7:26AM on Saturday, August 17, 2002
AUGUSTA - James Brown's mounting debt on an empty, unsold building in Augusta could force him out of his $400,000 Beech Island, S.C., home and more than 50 acres of land around it. <br>
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SouthTrust Bank filed documents Monday claiming the Godfather of Soul, his trustees and James Brown Enterprises Inc. owe more than $900,000 on a former federal courthouse he bought in 2000 for $1 million. SouthTrust is the bank that sold the property. <br>
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The filing against Brown could result in a lien being placed on other property he owns, including his Beech Island home, real estate attorneys said. <br>
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Brown announced the purchase of the building in September 2000 and put the building up for rent or sale a year later. <br>
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Brown owes the bank $754,544 on the property, and interest and attorneys fees make up the rest of the $914,161 debt, according to court documents. <br>
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Brown has paid part of the debt, said attorney Albert ``Buddy'' Dallas. He said he couldn't give specifics. <br>
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A SouthTrust manager declined to discuss the case and referred questions to the bank's human resources department, which didn't return a message left by Augusta Chronicle on Friday.