Miley Cyrus' Parents Will Sell the Homestead

12/20/2010 7:15 PM PST

Billy Ray and Tish Cyrus to Sell Family Home

Sources connected with Miley Cyrus' family tell TMZ ... Billy Ray and Tish will put their Toluca Lake home on the market -- we're told probably for more than $7 million.

Billy Ray filed for divorce October 26. But get this ... sources tell TMZ that more than three months ago Tish, looked at a home listed in nearby Encino for $4.6 million.

Rich people downsizing.