Uncle Nearest asset up for sale
The court-appointed receiver for Uncle Nearest has listed the business’ property on the Massachusetts island of Martha’s Vineyard for sale.
The Tennessee whiskey brand was put under receivership in August 2025 after defaulting on more than US$100 million in loans. Its co-founders, Fawn and Keith Weaver, have fought the receivership, claiming it is damaging the brand’s sales and long-term value.
The property, located at 10 Codman Spring Road, Edgartown, Massachusetts, was mentioned in the original lawsuit by Farm Credit Mid-America. The lender claimed Uncle Nearest borrowed US$2.3m for the property, which was allegedly purchased through a separate LLC and later mortgaged to another lender, in violation of the loan agreements.
The receiver has listed the property for US$2,595,000 on 26 January.
A full-price offer was received on 18 February, subject to an inspection contingency and a partial financing contingency.
The receiver also had two backup offers for the full asking price. The sale is set to close on 19 March, with the receiver asking for an expedited order to approve the sale.
The property allegedly generates no revenue for Uncle Nearest, and was purchased purely for marketing and advertising purposes.
The Weavers have refused to consent to the sale, however this does not legally prevent it from going ahead.
In a separate response filed on 26 February, they asserted that the property is not collateral belonging to the property. Keith Weaver claims to have purchased the property personally, not for Uncle Nearest. Documentation showing this was allegedly provided to Farm Credit.
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