Martha’s Vineyard home linked to Uncle Nearest remains in limbo

A buyer has backed out and another won’t close until founder Fawn Weaver’s legal challenge is resolved, according to court filings.

The effort to sell a Martha’s Vineyard home tied to Uncle Nearest, once one of the most celebrated Black-owned success stories in the spirits world, has hit fresh turbulence as the brand’s mounting legal troubles continue to play out.

According to the Vineyard Gazette, the sale of the Edgartown property is now in jeopardy after the original buyer dropped out, court documents show, and a second interested buyer has signaled they won’t close until founder Fawn Weaver’s objection is resolved. The complication marks the latest chapter in a saga that has seen Uncle Nearest go from a rising star to a company mired in receivership.

The outlet reported that a Tennessee federal court approved the receiver’s request in June to sell the home along Edgartown-West Tisbury Road for $2.5 million, part of an effort to chip away at the company’s debt. But Weaver and her husband Keith, who were recently removed from the company by the receiver, objected to the sale and asked the court earlier this month to halt it as they weigh an appeal.

In their filing, the Weavers argued that offloading the property would be difficult to reverse and that its full value hadn’t been properly weighed. Their attorney, Curtis Johnson, described the home as “a unique asset with brand, strategic, and enterprise value,” warning that a sale would “substantially prejudice” the couple before any judgment on the debt is entered.

The Weavers also contended that pausing the sale wouldn’t harm creditors, since the court has already ordered that any proceeds be withheld until the broader lawsuit concludes.

The receiver’s attorney, Justin Campbell, pushed back, per the Vineyard Gazette, arguing that delaying the sale only saddles the estate with ongoing costs for a property that generates no income, ultimately hurting creditors.

Uncle Nearest’s lenders have since claimed the company owes more than $100 million after defaulting on payments.

The Vineyard Gazette noted that the court has yet to rule on the competing motions, and no hearings have been scheduled.