Lil Wayne Private Skate Park Used as Collateral ... In Private Jet Dispute

11/23/2015 12:30 AM PST

Lil Wayne: Private Skate Park Used as Collateral in Private Jet Dispute

EXCLUSIVE

Lil Wayne is putting one of his most prized possessions on the line in order to pay back a $2 million judgment ... his private skate park.

Wayne took out a $1.5 million loan to help pay back the $2 million he owes to a private jet company. According to the docs -- obtained by TMZ -- he's using his Miami skate park as collateral. The good news ... this means Wayne will get to hold on to the $2 million worth of art work cops seized.

A video posted by Lil Wayne (@liltunechi) on

TMZ broke the story, cops descended upon his Miami Beach mansion earlier this month to seize property, including his prized paintings and record plaques.