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Thread: Michael Jackson's Neverland Ranch in foreclosure; will be auctioned 03/19/08

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    Elite Member Laurent's Avatar
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    Default Michael Jackson's Neverland Ranch in foreclosure; will be auctioned 03/19/08

    Michael Jackson faces forced sale of Neverland
    Tue Feb 26, 2008 6:41pm EST

    LOS ANGELES (Reuters) - Michael Jackson's famed Neverland Valley Ranch in California will be foreclosed and sold on March 19 unless the pop star pays a balance of nearly $25 million, property records showed on Tuesday.

    FoxNews.com celebrity columnist Roger Friedman reported on the Web site (Breaking News | Latest News | Current News - FOXNews.com) that Jackson has been formally apprised of the foreclosure and that legal documents have also been filed with the Santa Barbara County Recorder's office.

    "You are in default of a deed of trust ...," Jackson was told in the five-page filing, according to a copy of the document published by FoxNews.com. "Unless you take action to protect your property it may be sold at a public sale."

    According to the documents, if Jackson fails to pay the outstanding balance, estimated at $24.5 million, Neverland would be sold to the highest bidder at a public auction on the courthouse steps.

    The county recorder's Web site shows that a Notice of Trustees Sale was filed against Neverland Valley Ranch on Monday but no further details were available and a spokeswoman for the office declined to comment.

    Jackson's publicist, Raymone Bain, did not return calls seeking comment on the foreclosure notice.

    The onetime "King of Pop" has owned the 2,800-acre (1,133-ha) ranch in the rolling foothills above the California coast since 1988, naming it after the whimsical island where children never grow up in J.M. Barrie's Peter Pan stories.

    Jackson, 49, famously outfitted the property with a private zoo and amusement park and festooned it with statues of Peter Pan characters.

    But the reclusive, Grammy-winning singer has spent little time at Neverland since his June, 2005 acquittal on charges that he sexually molested a young boy there after plying him with alcohol.

    In 2006 state authorities ordered the property shuttered and fined Jackson for failing to pay his employees or maintain proper insurance, and the zoo animals have since reportedly been removed.

    Jackson, who proclaimed himself "King of Pop" in the 1980s and scored one of the top-selling pop albums of all time in "Thriller," has since seen his fame as an entertainer eclipsed by the sometimes bizarre details of his personal life.

    (Editing by Eric Walsh)
    Michael Jackson faces forced sale of Neverland | Entertainment | Reuters

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    Elite Member aabbcc's Avatar
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    Funny ... I don't have two nickels to rub together and my mortgage payments are made on time.

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    Elite Member Grimmlok's Avatar
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    they've been saying this for a year now, foreclose on it already.
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    Elite Member Laurent's Avatar
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    It's not just the house either. When Neverland is auctioned, it will include everything: all personal property inside, all fixtures and appliances, furniture, and "all merry go round type devices," any rides, games. The auction literally includes every single thing that is or isn't nailed down.

    FOXNews.com - Michael Jackson's Neverland Foreclosed; Auction Date Set - Celebrity Gossip | Entertainment News | Arts And Entertainment
    Just imagine what they'll find under the bed.
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    Elite Member tkdgirl's Avatar
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    Look for Brad and Angie to swoop right in!

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    Elite Member WhateverLolaWants's Avatar
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    I don't know why he didn't just sell it. He could use the money.
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    Elite Member mrs.v's Avatar
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    fuck him.

    eat a hot bowl of dicks.

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    Who gives a rat's ass.
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    Elite Member january's Avatar
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    Didn't he just let a lot of the animals starve as well? I remember reading that he didn't even make arrangements for the animals on the property to be fed or something like that, its been awhile back. I really detest this man.
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    Elite Member kingcap72's Avatar
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    Why do I see a bunch of Wikipedia threads and MJ photos littering this thread in the near future? Hmmm.

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    Elite Member january's Avatar
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    Why would you think that? Would you have a reason bychance?
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    Elite Member kingcap72's Avatar
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    ^^^ By chance, could you be more specific.

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    Elite Member CherryDarling's Avatar
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    Oh I'm sure, absolutely POSITIVE Jacko will come up with 25 million to save the pedo palace!



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    I have asked on other boards, but no answer yet. Is anyone familiar with the sub-dividing rules of the area? Meaning, if someone bought the 2,800 acres, could they subdivide the property, develop a golf course and make a $100,000,000 in the process? If allowable to subdivide into 10 acre or 5 acre tracts, thats a fortune waiting to be made.

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