"I'm going to have a Christie's auction," Love, 42, tells AOL music Web site Spinner.com. "[My house] is like a mausoleum."
Love and Cobain wed in 1992 and had a daughter, Frances Bean, now 14. Cobain killed himself in 1994; Love has never remarried.
"My daughter doesn't need to inherit a giant Hefty bag full of flannel f---ing shirts," Love says. "A sweater, a guitar and the lyrics to '[Smells Like] Teen Spirit' – that's what my daughter gets. And the rest of it we'll just f---ing sell."
According to Love, her friends are supportive of the idea. "Everyone's been positive and behind me on it," she says. "We'll make a lot of money and give a bunch of it to charity."
An AOL rep told the Associated Press on Monday that no date has been set for the auction.
The former Hole singer, who recently made headlines with her dramatic weight loss, has been working on a new solo album, Nobody's Daughter. She tells Spinner her lyrics deal with her past relationships with, among others, Cobain and actor Edward Norton, as well as an unidentified recent flame.
"There are two songs that are specifically about this guy," she says. "The rest of them have bits of Kurt, bits of Edward, bits of lots of people in them."
Although she's had boyfriends since Cobain's death, Love says he's still a presence in her life. "I still wear his pajamas to bed," she says. "How am I ever going to go form another relationship in my lifetime wearing Kurt's pajamas?"
Kevin Mazur / WireImage