A dispute over Peter Brock's estate has frozen the motor racing great's assets, forcing his widow Bev Brock to consider selling his memorabilia to raise cash.

The legal dispute, over who Brock wanted to control his estate, centres on proceeds from the sale of his $2.5 million mansion.

News Ltd reports two documents exist setting out Brock's wishes.

The estate has reportedly been frozen while the matter goes through the courts, leaving Ms Brock having to borrow money so she can move out of the mansion.

"I am not living in the lap of luxury," Ms Brock told News Ltd.

"Peter was very generous and poured a lot into the community. The personal stuff came last. I can't rule out selling some items in the future."

Ms Brock says the legal drama has left her in financial limbo.

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