"Who knows if he even has a will?" said Lee Phillips, an attorney who represented the singer when he made his blockbuster film Purple Rain. "He was a unique person."
Ownership of the unreleased music collection "will go to whoever inherits it from his estate", according to Jay Cooper, a Los Angeles-based entertainment lawyer. Twice divorced with no surviving children, Prince lacks any immediately identifiable heirs. Some have suggested he may leave part of his $300 million estate to the Jehovah's Witnesses church he attended for nearly 15 years close to his home.
Without a will, the inheritance would be determined by a probate court, subject to the laws of succession in Prince's home state of Minnesota, Mr Cooper said.
By that account, the estate could fall to Tyka Nelson, Prince's only full sibling. Ms Nelson, who yesterday told fans her brother "loved you all" is also a musician. She and Prince collaborated on songs together in the early days of their careers.
At stake is Prince's 39 studio albums that have sold over 36 million copies in the United State alone since 1978, plus the thousands of songs that remain unreleased in his vaults.
So assertive was Prince in protecting ownership rights of the music he did release that during a bitter contract with Warner Bros. he changed his name to an unpronounceable symbol and scrawled the word "slave" on his forehead in performances.