The Diocese of Burlington is seeking court approval to sell Rice Memorial High School to newly formed nonprofit RMHS Inc. for $4.3 million. The proposed private transaction covers the school’s two-story, 42-classroom building and 27 surrounding acres of athletic fields, parking and wetlands in South Burlington. The buyer’s initial $2 million offer increased through negotiations, while a real-estate adviser valued the property at $4 million to $6 million, according to VTDigger.

The transaction would move a substantial diocesan asset into an independent nonprofit while preserving operations for Rice’s roughly 400 students. The diocese says avoiding broker commissions would increase net proceeds for the estate and argues that a public marketing process could disrupt the school. Court scrutiny will center on whether the negotiated price and private-sale structure adequately monetize the property amid an ongoing dispute with abuse claimants over the assets available to fund recoveries.