The sale is necessary because a $1.15 million loan comes due on the Bel Air Road property where Gabor has lived for nearly 40 years, according to court papers filed Monday with Los Angeles Superior Court Judge Reva Goetz by Frederic Prinz von Anhalt and his lawyer, William Remery.
Von Anhalt is hoping for a deferred sale that would allow his wife to remain at the home for at least three years, according to his court papers. Gabor's right leg was amputated in January 2011 because of gangrene.
Goetz recently ruled that von Anhalt will remain as his 96-year-old wife's interim caretaker at least until Aug. 21. The judge originally appointed him to the position last July. A hearing on the petition to sell the home is scheduled April 5.
According to the new court papers, Gabor's home is burdened by three loans totaling $5.1 million. Although the loans could be refinanced, it would cost about $5.6 million to cover the new loans, insurance, property taxes, fire insurance and interest, the conservator's court papers state.
Gabor's income is less than $9,000 a month and the bedridden woman's in- home caregiving expense is $10,000 monthly, the von Anhalt court papers state.
"Those caregiving expenses do not include (Gabor's) other normal living and household expenses," according to von Anhalt's court papers.
A real estate broker has received multiple offers for the home, von Anhalt's court papers state. Gabor is unable to talk about her wishes regarding her property because of her condition, so von Anhalt has been in communication with his wife's court-appointed attorney, Leanne Maillian, according to the conservator's court papers.
Gabor's daughter, Constance Francesca Gabor Hilton, filed her own conservatorship petition in March 2012 after learning her mother's home was in default over missed mortgage payments and that von Anhalt had obtained a six- figure loan against his wife's equity in the property, according to a statement issued on behalf of Hilton's attorney.
But both sides last summer reached an interim solution in favor of appointing von Anhalt as Gabor's temporary conservator.
In previously submitted court papers, Remery said his client has
"managed (Gabor's) finances prudently while under significant financial
straits created in large part by (Hilton's) own abuse of power of attorney
given to her by (her mother)."